Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Lincoln National Corp

Lincoln National Corp cut its position in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 6.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,174 shares of the oil and natural gas company’s stock after selling 138 shares during the quarter. Lincoln National Corp’s holdings in Diamondback Energy were worth $337,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after acquiring an additional 858,446 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at approximately $128,720,000. Wellington Management Group LLP boosted its stake in shares of Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after buying an additional 648,317 shares during the last quarter. Raymond James & Associates grew its position in shares of Diamondback Energy by 143.0% during the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after buying an additional 577,514 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Diamondback Energy by 286.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock worth $92,380,000 after buying an additional 441,411 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

NASDAQ FANG opened at $202.19 on Monday. The company has a 50-day moving average price of $197.78 and a two-hundred day moving average price of $172.11. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The stock has a market cap of $36.06 billion, a price-to-earnings ratio of 11.40 and a beta of 1.91. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the company posted $4.10 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Analysts forecast that Diamondback Energy, Inc. will post 18.98 EPS for the current year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Activity at Diamondback Energy

In related news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The disclosure for this sale can be found here. Insiders have sold a total of 58,575 shares of company stock worth $11,491,006 over the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. BMO Capital Markets lifted their price target on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 13th. Morgan Stanley cut their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Royal Bank of Canada lifted their target price on Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, Wells Fargo & Company dropped their price target on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.68.

Get Our Latest Report on Diamondback Energy

About Diamondback Energy

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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