WoodTrust Financial Corp Buys Shares of 11,350 Diamondback Energy, Inc. $FANG

WoodTrust Financial Corp purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the third quarter, Holdings Channel.com reports. The fund purchased 11,350 shares of the oil and natural gas company’s stock, valued at approximately $1,624,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Swedbank AB boosted its stake in shares of Diamondback Energy by 3.9% during the 2nd quarter. Swedbank AB now owns 207,823 shares of the oil and natural gas company’s stock worth $28,555,000 after acquiring an additional 7,732 shares in the last quarter. Wedmont Private Capital raised its holdings in Diamondback Energy by 3.0% during the second quarter. Wedmont Private Capital now owns 3,555 shares of the oil and natural gas company’s stock worth $505,000 after purchasing an additional 105 shares during the last quarter. Security National Bank boosted its position in Diamondback Energy by 1.2% during the second quarter. Security National Bank now owns 28,951 shares of the oil and natural gas company’s stock worth $3,978,000 after purchasing an additional 334 shares in the last quarter. Moody National Bank Trust Division grew its holdings in Diamondback Energy by 32.2% in the second quarter. Moody National Bank Trust Division now owns 40,211 shares of the oil and natural gas company’s stock valued at $5,525,000 after purchasing an additional 9,786 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Diamondback Energy in the second quarter valued at $108,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research reports. Citigroup lowered their price objective on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $183.00 target price on shares of Diamondback Energy in a research note on Thursday, November 20th. Evercore ISI increased their price objective on Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Susquehanna cut their target price on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Finally, Wells Fargo & Company raised their price target on shares of Diamondback Energy from $160.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $188.33.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $151.28 on Friday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $180.91. The company has a 50 day moving average price of $150.37 and a 200 day moving average price of $145.28. The firm has a market capitalization of $43.33 billion, a price-to-earnings ratio of 10.51 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, topping the consensus estimate of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the firm posted $3.19 earnings per share. The firm’s revenue was up 48.4% on a year-over-year basis. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. Diamondback Energy’s dividend payout ratio is presently 27.80%.

Insider Activity

In other news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the transaction, the director owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This trade represents a 26.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is owned by insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.