Milestone Asset Management LLC Purchases Shares of 4,381 Diamondback Energy, Inc. $FANG

Milestone Asset Management LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,381 shares of the oil and natural gas company’s stock, valued at approximately $602,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Nuveen LLC purchased a new stake in Diamondback Energy in the first quarter worth $230,039,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Diamondback Energy in the 1st quarter worth about $77,622,000. Wellington Management Group LLP increased its holdings in Diamondback Energy by 27.3% in the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock worth $311,792,000 after buying an additional 418,431 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Diamondback Energy by 9.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after buying an additional 384,971 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Diamondback Energy by 50.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company’s stock worth $181,585,000 after buying an additional 381,542 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FANG shares. Mizuho lowered their price objective on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Melius began coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 price objective on shares of Diamondback Energy in a research report on Friday, October 10th. Susquehanna cut their price objective on Diamondback Energy to $188.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Finally, Morgan Stanley dropped their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $188.41.

Insider Buying and Selling

In related news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman directly owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Trading Down 1.3%

Diamondback Energy stock opened at $139.42 on Wednesday. The stock has a 50-day moving average of $142.78 and a two-hundred day moving average of $141.66. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The stock has a market cap of $40.36 billion, a PE ratio of 9.69 and a beta of 0.99. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $186.07.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. Diamondback Energy had a return on equity of 9.81% and a net margin of 27.32%.The company’s revenue was up 48.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 earnings per share. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 13th. Diamondback Energy’s dividend payout ratio (DPR) is 28.43%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.