The Manufacturers Life Insurance Company Sells 436 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

The Manufacturers Life Insurance Company reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,134 shares of the oil and natural gas company’s stock after selling 436 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Diamondback Energy worth $29,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC grew its position in Diamondback Energy by 7.2% during the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after purchasing an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC increased its holdings in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC raised its stake in shares of Diamondback Energy by 0.3% in the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after purchasing an additional 56 shares during the last quarter. Versant Capital Management Inc lifted its stake in Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after acquiring an additional 57 shares during the period. Finally, Confluence Investment Management LLC lifted its position in Diamondback Energy by 1.6% during the second quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock valued at $734,000 after purchasing an additional 58 shares during the period. 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 the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 1.0 %

NASDAQ FANG opened at $172.40 on Tuesday. Diamondback Energy, Inc. has a 12 month low of $143.08 and a 12 month high of $214.50. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The stock has a market cap of $30.75 billion, a PE ratio of 9.72, a P/E/G ratio of 1.17 and a beta of 1.89. The stock’s 50 day moving average is $188.52 and its 200 day moving average is $195.43.

Diamondback Energy (NASDAQ:FANG) last released 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 firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.68 earnings per share. Research analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $2.34 per share. 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%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FANG shares. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 target price for the company. Susquehanna lowered their target price on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. KeyCorp initiated coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target for the company. Wolfe Research initiated coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Benchmark restated a “buy” rating and set a $154.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $207.76.

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.