Yacktman Asset Management LP Sells 156,223 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Yacktman Asset Management LP trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,269,831 shares of the oil and natural gas company’s stock after selling 156,223 shares during the quarter. Diamondback Energy makes up approximately 2.2% of Yacktman Asset Management LP’s holdings, making the stock its 16th largest position. Yacktman Asset Management LP owned 0.71% of Diamondback Energy worth $218,919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FANG. First Community Trust NA bought a new stake in shares of Diamondback Energy during the second quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC boosted its holdings in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the 2nd quarter worth about $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the 3rd quarter worth about $42,000. Finally, Founders Capital Management increased its stake in shares of Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

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 transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Trading Up 2.2 %

Diamondback Energy stock opened at $179.76 on Tuesday. The business has a 50-day simple moving average of $182.94 and a two-hundred day simple moving average of $192.79. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The company has a market cap of $52.98 billion, a P/E ratio of 9.29, a P/E/G ratio of 1.23 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion during 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 firm’s revenue was up 29.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.68 earnings per share. Analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

Analysts Set New Price Targets

FANG has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a report on Tuesday, September 17th. Susquehanna reduced their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Benchmark reiterated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. UBS Group cut their target price on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. started coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Profile

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.