Diamondback Energy, Inc. $FANG Shares Sold by Segment Wealth Management LLC

Segment Wealth Management LLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,872 shares of the oil and natural gas company’s stock after selling 145 shares during the period. Segment Wealth Management LLC’s holdings in Diamondback Energy were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Hilltop National Bank acquired a new stake in Diamondback Energy in the 2nd quarter worth approximately $361,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Diamondback Energy by 11.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,444 shares of the oil and natural gas company’s stock worth $14,763,000 after purchasing an additional 10,756 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Diamondback Energy by 9.5% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,456 shares of the oil and natural gas company’s stock worth $475,000 after purchasing an additional 301 shares in the last quarter. J2 Capital Management Inc raised its position in Diamondback Energy by 30.0% during the 2nd quarter. J2 Capital Management Inc now owns 2,031 shares of the oil and natural gas company’s stock worth $279,000 after buying an additional 469 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Diamondback Energy by 12.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 40,517 shares of the oil and natural gas company’s stock worth $5,567,000 after buying an additional 4,340 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 3.0%

Shares of FANG opened at $147.47 on Friday. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $142.86 and its two-hundred day moving average is $141.52. The stock has a market cap of $42.69 billion, a PE ratio of 10.48 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the firm earned $4.52 EPS. The company’s revenue for the quarter was up 48.1% compared to the same quarter last year. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s payout ratio is 28.43%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FANG. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research report on Friday, July 11th. William Blair began coverage on shares of Diamondback Energy in a research report on Monday, August 25th. They set an “outperform” rating for the company. UBS Group raised their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Diamondback Energy in a research report on Saturday, September 27th. Finally, Susquehanna reduced their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $192.41.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. The trade was a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Profile

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.