Hancock Whitney Corp Has $1.28 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Hancock Whitney Corp boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 74.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,407 shares of the oil and natural gas company’s stock after purchasing an additional 2,724 shares during the quarter. Hancock Whitney Corp’s holdings in Diamondback Energy were worth $1,283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Diamondback Energy by 0.8% in the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Diamondback Energy by 38.2% during 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 buying an additional 2,381,488 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 16.0% in the 2nd 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 boosted its holdings 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 worth $541,844,000 after purchasing an additional 1,916,900 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position 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. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Susquehanna reduced their target price on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, September 17th. Barclays lifted their target price on Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Benchmark reissued a “buy” rating and issued a $154.00 price target on shares of Diamondback Energy in a report on Tuesday, August 6th. Finally, Bank of America raised their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.71.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $181.00 on Monday. The firm has a market capitalization of $32.28 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 1.06 and a beta of 1.89. 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 has a fifty day moving average of $192.28 and a 200 day moving average of $195.78. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50.

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

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $2.34 per share. This represents a yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

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.