Diamondback Energy, Inc. $FANG Shares Sold by Tidal Investments LLC

Tidal Investments LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 15.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 114,195 shares of the oil and natural gas company’s stock after selling 20,773 shares during the quarter. Tidal Investments LLC’s holdings in Diamondback Energy were worth $20,073,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new position in shares of Diamondback Energy in the 1st quarter valued at about $26,000. JPL Wealth Management LLC purchased a new stake in Diamondback Energy during the third quarter worth approximately $26,000. Wellington Shields & Co. LLC lifted its stake in Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 135 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Diamondback Energy in the second quarter valued at approximately $28,000. Finally, Lloyd Advisory Services LLC. acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $31,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of FANG opened at $205.39 on Friday. The company’s 50 day simple moving average is $197.13 and its 200-day simple moving average is $192.66. The firm has a market cap of $57.51 billion, a PE ratio of 40.04 and a beta of 0.43. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $216.90. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.38 EPS. As a group, equities analysts predict that Diamondback Energy, Inc. will post 20.14 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy’s dividend payout ratio is presently 85.77%.

Analyst Ratings Changes

FANG has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Citigroup lowered their target price on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a report on Monday, August 10th. Zacks Research downgraded shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Wolfe Research reaffirmed an “outperform” rating and issued a $206.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $216.00 price target on shares of Diamondback Energy in a research note on Wednesday, August 19th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.05.

Insider Activity at Diamondback Energy

In other news, Director Charles Meloy sold 33,333 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the sale, the director owned 818,197 shares in the company, valued at approximately $162,338,466.77. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.64% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico. The company’s operations are concentrated primarily in the Midland and Delaware sub-basins.

Diamondback produces crude oil, natural gas and natural gas liquids. Its activities include drilling and completing horizontal wells, operating gathering and infrastructure assets, and managing mineral and royalty interests through its Viper Energy platform.