Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Harmony Asset Management LLC

Harmony Asset Management LLC lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,306 shares of the oil and natural gas company’s stock after selling 174 shares during the quarter. Harmony Asset Management LLC’s holdings in Diamondback Energy were worth $662,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Diamondback Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after purchasing an additional 176,208 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 worth $1,706,076,000 after acquiring an additional 2,381,488 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 acquiring an additional 415,902 shares in the last quarter. Boston Partners raised its position in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Diamondback Energy by 10.1% in the second 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 acquiring an additional 247,065 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on FANG shares. Morgan Stanley increased their price objective on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group started coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price objective on the stock. Bank of America increased their price objective on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Scotiabank decreased their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, StockNews.com lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.71.

Diamondback Energy Price Performance

Shares of FANG opened at $181.00 on Monday. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.06 and a beta of 1.89. The stock has a 50 day moving average of $192.28 and a 200-day moving average of $195.78. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50.

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

Diamondback Energy Increases Dividend

The company 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 presently 20.29%.

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.