Raymond James & Associates Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Raymond James & Associates boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,135,230 shares of the oil and natural gas company’s stock after purchasing an additional 46,109 shares during the period. Raymond James & Associates owned about 0.64% of Diamondback Energy worth $195,714,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD raised its position in shares of Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after purchasing an additional 2,381,488 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after buying an additional 415,902 shares in the last quarter. Boston Partners grew its stake in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Diamondback Energy by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after purchasing an additional 247,065 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Diamondback Energy by 7.1% in the 2nd quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock valued at $495,236,000 after purchasing an additional 164,732 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG stock opened at $183.99 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The stock’s 50-day simple moving average is $186.35 and its 200-day simple moving average is $194.77. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The firm has a market capitalization of $32.81 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the company earned $3.68 EPS. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $2.34 dividend. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Activity

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FANG shares. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Scotiabank decreased their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Evercore ISI dropped their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

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.