FDx Advisors Inc. reduced its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 72.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,691 shares of the oil and natural gas company’s stock after selling 6,963 shares during the quarter. FDx Advisors Inc.’s holdings in Diamondback Energy were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Lord Abbett & CO. LLC grew its stake in Diamondback Energy by 223.0% during the first quarter. Lord Abbett & CO. LLC now owns 666,299 shares of the oil and natural gas company’s stock worth $84,300,000 after purchasing an additional 459,995 shares during the period. Capital Growth Management LP bought a new position in Diamondback Energy in the first quarter worth approximately $51,241,000. Arosa Capital Management LP bought a new position in Diamondback Energy in the first quarter worth approximately $34,257,000. Legal & General Group Plc boosted its holdings in Diamondback Energy by 206.8% in the first quarter. Legal & General Group Plc now owns 401,479 shares of the oil and natural gas company’s stock worth $50,795,000 after acquiring an additional 270,607 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Diamondback Energy by 5.5% in the first quarter. BlackRock Inc. now owns 4,993,647 shares of the oil and natural gas company’s stock worth $631,797,000 after acquiring an additional 261,658 shares in the last quarter.

In related news, insider Michael L. Hollis sold 5,000 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $128.85, for a total transaction of $644,250.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Hof Matthew Kaes Van’t sold 832 shares of the business’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total value of $106,878.72. Following the transaction, the vice president now owns 6,897 shares in the company, valued at approximately $885,988.62. The disclosure for this sale can be found here. In the last three months, insiders sold 5,972 shares of company stock valued at $768,014. 0.57% of the stock is currently owned by corporate insiders.

NASDAQ:FANG traded up $2.92 during trading hours on Friday, hitting $121.73. 2,161,925 shares of the company’s stock traded hands, compared to its average volume of 1,834,222. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.54. Diamondback Energy Inc has a 52 week low of $93.16 and a 52 week high of $138.25. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 0.75 and a beta of 0.62.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.05). Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The firm had revenue of $526.30 million for the quarter, compared to the consensus estimate of $479.57 million. During the same period last year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 95.4% on a year-over-year basis. equities analysts forecast that Diamondback Energy Inc will post 6.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 27th. Stockholders of record on Monday, August 20th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, August 17th. Diamondback Energy’s dividend payout ratio (DPR) is presently 9.43%.

Several research analysts have issued reports on the company. Raymond James reiterated a “buy” rating and issued a $166.00 price target on shares of Diamondback Energy in a report on Monday, August 13th. BMO Capital Markets restated a “hold” rating and issued a $135.00 target price on shares of Diamondback Energy in a report on Friday, August 17th. Capital One Financial restated an “overweight” rating on shares of Diamondback Energy in a report on Wednesday, August 8th. Imperial Capital raised their target price on Diamondback Energy from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Finally, TD Securities set a $175.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Saturday, August 11th. Five investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Diamondback Energy currently has an average rating of “Buy” and an average price target of $154.18.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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

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