Diamondback Energy, Inc. $FANG Holdings Lowered by TD Asset Management Inc

TD Asset Management Inc cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 350,703 shares of the oil and natural gas company’s stock after selling 17,282 shares during the period. TD Asset Management Inc’s holdings in Diamondback Energy were worth $50,186,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Diamondback Energy by 122.1% during the 2nd quarter. Brighton Jones LLC now owns 4,005 shares of the oil and natural gas company’s stock valued at $550,000 after purchasing an additional 2,202 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in Diamondback Energy by 438.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 9,825 shares of the oil and natural gas company’s stock valued at $1,350,000 after buying an additional 8,001 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Diamondback Energy by 1.7% during the second quarter. New York Life Investment Management LLC now owns 25,485 shares of the oil and natural gas company’s stock worth $3,502,000 after acquiring an additional 438 shares during the period. World Investment Advisors raised its position in Diamondback Energy by 12.3% in the second quarter. World Investment Advisors now owns 28,068 shares of the oil and natural gas company’s stock worth $3,857,000 after acquiring an additional 3,077 shares in the last quarter. Finally, Emerald Advisers LLC lifted its holdings in Diamondback Energy by 69.0% in the 2nd quarter. Emerald Advisers LLC now owns 2,057 shares of the oil and natural gas company’s stock valued at $283,000 after acquiring an additional 840 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FANG shares. Roth Mkm reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Diamondback Energy in a research note on Tuesday. Mizuho raised their target price on shares of Diamondback Energy from $194.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley dropped their price target on Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Jefferies Financial Group reissued a “hold” rating and set a $173.00 price objective on shares of Diamondback Energy in a research note on Monday, January 19th. Finally, TD Cowen raised Diamondback Energy to a “strong-buy” rating in a research report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $187.86.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 60,605 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $161.12, for a total transaction of $9,764,677.60. Following the completion of the sale, the director directly owned 982,006 shares in the company, valued at approximately $158,220,806.72. This trade represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the transaction, the insider directly owned 98,686,727 shares in the company, valued at $16,074,094,093.76. The trade was a 1.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,438,516 shares of company stock valued at $225,026,921 over the last three months. 0.70% of the stock is owned by insiders.

Diamondback Energy Trading Down 0.5%

Diamondback Energy stock opened at $166.98 on Friday. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $177.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.60 and a current ratio of 0.42. The firm has a market capitalization of $47.82 billion, a price-to-earnings ratio of 29.76 and a beta of 0.63. The company has a 50 day moving average price of $157.63 and a 200 day moving average price of $149.47.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.26). The firm had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.41 billion. Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. Diamondback Energy’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm earned $3.67 earnings per share. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th will be issued a $1.05 dividend. The ex-dividend date is Thursday, March 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.00. Diamondback Energy’s dividend payout ratio is currently 71.30%.

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.