Massmutual Trust Co. FSB ADV Reduces Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Massmutual Trust Co. FSB ADV decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,928 shares of the oil and natural gas company’s stock after selling 95 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Diamondback Energy were worth $1,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC raised its stake in shares of Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after acquiring an additional 54 shares during the period. Carolinas Wealth Consulting LLC raised its stake 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 valued at $27,000 after acquiring an additional 55 shares during the period. 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 valued at $3,999,000 after acquiring an additional 56 shares during the period. Versant Capital Management Inc raised its stake in shares of Diamondback Energy by 16.1% in the second 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 raised its stake in shares of Diamondback Energy by 1.6% in 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 acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Benchmark upped their price target on shares of Diamondback Energy from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company cut their price target on shares of Diamondback Energy from $230.00 to $219.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Evercore ISI cut their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.50.

Diamondback Energy Stock Up 3.4 %

NASDAQ:FANG opened at $194.61 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The stock has a market capitalization of $34.71 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.17 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 company’s 50-day simple moving average is $187.40 and its 200-day simple moving average is $195.23.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating 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 business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the business earned $3.68 EPS. The company’s revenue was up 29.4% compared to the same quarter last year. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 18.97 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors 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. This represents a dividend yield of 1.9%. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Insider Activity 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 shares were sold at an average price of $175.11, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

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.