Diamondback Energy, Inc. $FANG Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,826 shares of the oil and natural gas company’s stock after selling 503 shares during the period. Hodges Capital Management Inc.’s holdings in Diamondback Energy were worth $2,174,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Uhlmann Price Securities LLC increased its stake in shares of Diamondback Energy by 1.3% in the 2nd quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock valued at $699,000 after purchasing an additional 67 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of Diamondback Energy by 5.6% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock worth $226,000 after buying an additional 75 shares during the period. FourThought Financial Partners LLC lifted its position in shares of Diamondback Energy by 2.9% during the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after buying an additional 78 shares in the last quarter. Biondo Investment Advisors LLC lifted its position in shares of Diamondback Energy by 0.3% during the 1st quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock valued at $4,614,000 after buying an additional 80 shares in the last quarter. Finally, Fullcircle Wealth LLC grew its stake in Diamondback Energy by 3.7% in the 2nd quarter. Fullcircle Wealth LLC now owns 2,385 shares of the oil and natural gas company’s stock valued at $352,000 after acquiring an additional 85 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 2.0%

Shares of NASDAQ:FANG opened at $143.65 on Monday. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.07. The stock has a market cap of $41.16 billion, a P/E ratio of 9.98 and a beta of 0.99. The business has a fifty day moving average of $142.31 and a two-hundred day moving average of $141.78. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the previous year, the company posted $3.19 EPS. The company’s revenue was up 48.4% compared to the same quarter last year. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, November 13th. Diamondback Energy’s dividend payout ratio is currently 27.80%.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of research analyst reports. Melius initiated coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Evercore ISI lifted their price objective on Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Susquehanna reduced their target price on Diamondback Energy to $188.00 and set a “positive” rating for the company in a report on Monday, October 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 price target on shares of Diamondback Energy in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $188.41.

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.