Ballentine Partners LLC Invests $292,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Ballentine Partners LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,474 shares of the oil and natural gas company’s stock, valued at approximately $292,000.

A number of other large investors have also recently made changes to their positions in FANG. Founders Capital Management boosted its holdings in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares during the period. BKM Wealth Management LLC acquired a new stake in Diamondback Energy during the 4th quarter worth $27,000. Logan Capital Management Inc. purchased a new position in Diamondback Energy during the 4th quarter worth $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in Diamondback Energy in the fourth quarter valued at $34,000. Finally, CVA Family Office LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at about $35,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In related news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the sale, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the sale, the chief operating officer now owns 69,677 shares in the company, valued at $13,736,123.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock valued at $7,362,750 over the last three months. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Trading Down 0.1 %

NASDAQ:FANG opened at $197.88 on Wednesday. The company has a market capitalization of $35.29 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.04 and a beta of 1.90. Diamondback Energy, Inc. has a 52-week low of $125.69 and a 52-week high of $211.96. The stock has a fifty day simple moving average of $196.87 and a 200-day simple moving average of $180.68. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the firm earned $4.10 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 19.05 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.82%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy’s payout ratio is 20.29%.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of research reports. KeyCorp raised their price target on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Sanford C. Bernstein started coverage on Diamondback Energy in a research note on Thursday, June 6th. They set an “outperform” rating and a $243.00 price target for the company. Morgan Stanley lowered their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Barclays initiated coverage on shares of Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective for the company. Finally, Scotiabank lifted their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.35.

Diamondback Energy Company 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.