Diamondback Energy, Inc. $FANG Position Trimmed by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,803 shares of the oil and natural gas company’s stock after selling 155 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in Diamondback Energy were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Boston Partners increased its position in Diamondback Energy by 4.8% during the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after buying an additional 249,098 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company’s stock worth $680,649,000 after acquiring an additional 94,177 shares in the last quarter. Demars Financial Group LLC increased its holdings in shares of Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock valued at $655,953,000 after acquiring an additional 208,200 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Diamondback Energy by 4.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company’s stock valued at $468,846,000 after acquiring an additional 114,930 shares in the last quarter. Finally, Wellington Management Group LLP lifted 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 purchasing an additional 418,431 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 in the company, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Up 1.7%

Shares of FANG opened at $148.25 on Monday. 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 company has a 50-day simple moving average of $142.75 and a 200-day simple moving average of $141.78. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The firm has a market capitalization of $42.92 billion, a P/E ratio of 10.54 and a beta of 1.15.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly 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). The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The company’s revenue was up 48.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.52 earnings per share. On average, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. William Blair began coverage on Diamondback Energy in a report on Monday, August 25th. They set an “outperform” rating on the stock. Melius assumed coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Raymond James Financial dropped their target price on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a report on Wednesday, August 20th. Morgan Stanley boosted their target price on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $193.39.

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.