Toronto Dominion Bank Sells 23,329 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Toronto Dominion Bank decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 26.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,878 shares of the oil and natural gas company’s stock after selling 23,329 shares during the quarter. Toronto Dominion Bank’s holdings in Diamondback Energy were worth $11,013,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares during the period. Brophy Wealth Management LLC acquired a new stake in shares of Diamondback Energy in the third quarter valued at about $223,000. Vestcor Inc increased its stake in shares of Diamondback Energy by 16.6% in the third quarter. Vestcor Inc now owns 3,523 shares of the oil and natural gas company’s stock worth $607,000 after purchasing an additional 502 shares during the period. Continuum Advisory LLC lifted its position in shares of Diamondback Energy by 51,295.5% during the 3rd quarter. Continuum Advisory LLC now owns 22,614 shares of the oil and natural gas company’s stock worth $4,125,000 after purchasing an additional 22,570 shares during the last quarter. Finally, LRI Investments LLC boosted its stake in Diamondback Energy by 4,252.7% during the 3rd quarter. LRI Investments LLC now owns 17,193 shares of the oil and natural gas company’s stock valued at $2,964,000 after purchasing an additional 16,798 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 0.7 %

Shares of FANG stock opened at $163.34 on Friday. The company has a market capitalization of $47.69 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.21 and a beta of 1.88. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $179.49 and a 200 day moving average price of $188.04.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.49 EPS. Research analysts forecast that Diamondback Energy, Inc. will post 16.28 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FANG. Piper Sandler upped their price target on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Citigroup assumed coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They set a “neutral” rating and a $195.00 target price for the company. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. UBS Group cut their price objective on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Finally, Morgan Stanley lifted their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $212.17.

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.