Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,213 shares of the oil and natural gas company’s stock after purchasing an additional 100 shares during the period. Woodmont Investment Counsel LLC’s holdings in Diamondback Energy were worth $382,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Quent Capital LLC grew its holdings in Diamondback Energy by 7.2% during the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after acquiring an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its stake in Diamondback Energy by 0.3% during the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after purchasing an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in Diamondback Energy by 16.1% in the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after purchasing an additional 57 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

FANG stock opened at $181.59 on Friday. The stock’s fifty day simple moving average is $182.34 and its 200-day simple moving average is $192.55. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The stock has a market capitalization of $53.52 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 17.64% and a net margin of 33.64%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $5.49 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FANG. Susquehanna dropped their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Scotiabank decreased their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Sanford C. Bernstein cut their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price target for the company. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $209.64.

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.