US Bancorp DE lessened its stake in Diamondback Energy Inc (NASDAQ:FANG) by 11.8% in the first quarter, HoldingsChannel reports. The firm owned 16,545 shares of the oil and natural gas company’s stock after selling 2,203 shares during the quarter. US Bancorp DE’s holdings in Diamondback Energy were worth $1,680,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Diamondback Energy by 48.4% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,220 shares of the oil and natural gas company’s stock worth $326,000 after purchasing an additional 1,050 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of Diamondback Energy by 1.0% during the first quarter. TD Asset Management Inc. now owns 78,046 shares of the oil and natural gas company’s stock worth $7,924,000 after purchasing an additional 780 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Diamondback Energy by 12.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 655,912 shares of the oil and natural gas company’s stock worth $66,595,000 after purchasing an additional 71,032 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Diamondback Energy by 11.4% during the first quarter. JPMorgan Chase & Co. now owns 13,528,463 shares of the oil and natural gas company’s stock worth $1,373,546,000 after purchasing an additional 1,388,245 shares during the last quarter. Finally, Penn Capital Management Co. Inc. grew its holdings in shares of Diamondback Energy by 209.6% during the first quarter. Penn Capital Management Co. Inc. now owns 29,685 shares of the oil and natural gas company’s stock worth $3,014,000 after purchasing an additional 20,098 shares during the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

In other Diamondback Energy news, insider Michael L. Hollis purchased 5,313 shares of the company’s stock in a transaction on Friday, March 8th. The shares were purchased at an average cost of $95.12 per share, with a total value of $505,372.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $101.82, for a total value of $173,094.00. Following the completion of the transaction, the chief financial officer now directly owns 28,965 shares in the company, valued at $2,949,216.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,050 shares of company stock worth $1,187,058. Insiders own 0.47% of the company’s stock.

FANG traded up $1.41 during trading on Tuesday, hitting $99.58. The company’s stock had a trading volume of 39,346 shares, compared to its average volume of 1,895,946. Diamondback Energy Inc has a twelve month low of $85.19 and a twelve month high of $140.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.59 and a current ratio of 0.62. The firm has a market cap of $16.25 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.59 and a beta of 0.83.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. The firm had revenue of $864.00 million for the quarter, compared to analyst estimates of $893.16 million. During the same period in the previous year, the firm earned $1.64 earnings per share. The company’s revenue was up 80.4% compared to the same quarter last year. Research analysts predict that Diamondback Energy Inc will post 8.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 28th will be paid a $0.188 dividend. The ex-dividend date is Friday, May 24th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.13. This represents a $0.75 annualized dividend and a yield of 0.76%. Diamondback Energy’s payout ratio is 12.78%.

Several analysts have recently weighed in on FANG shares. Zacks Investment Research upgraded Diamondback Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 8th. Bank of America restated a “buy” rating and set a $165.00 price target (up from $154.00) on shares of Diamondback Energy in a report on Tuesday, April 16th. ValuEngine upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Co boosted their price target on Diamondback Energy from $161.00 to $177.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Finally, BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a report on Friday, February 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $161.43.

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Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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