Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,019 shares of the oil and natural gas company’s stock after selling 127 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Diamondback Energy were worth $404,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Founders Capital Management raised its holdings in Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the last quarter. First Community Trust NA acquired a new position in shares of Diamondback Energy in the second quarter worth $26,000. Carolinas Wealth Consulting LLC raised its holdings in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Logan Capital Management Inc. acquired a new position in shares of Diamondback Energy in the fourth quarter worth $31,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the second quarter worth $40,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other 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 sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FANG. Barclays boosted their price target on Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Wells Fargo & Company cut their price target on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Susquehanna cut their price target on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Truist Financial boosted their price target on Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, KeyCorp began coverage on Diamondback Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $225.00 target price for the company. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.71.

Diamondback Energy Trading Up 1.0 %

Shares of NASDAQ FANG opened at $170.63 on Friday. The stock’s 50 day moving average price is $189.17 and its two-hundred day moving average price is $195.50. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50. The stock has a market capitalization of $30.43 billion, a P/E ratio of 9.62, a PEG ratio of 1.17 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65.

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 (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the firm posted $3.68 earnings per share. Diamondback Energy’s revenue for the quarter was up 29.4% compared to the same quarter last year. On average, analysts anticipate that Diamondback Energy, Inc. will post 18.97 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.