Chartwell Investment Partners LLC Has $19.43 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Chartwell Investment Partners LLC trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,680 shares of the oil and natural gas company’s stock after selling 11,446 shares during the quarter. Diamondback Energy accounts for 0.7% of Chartwell Investment Partners LLC’s investment portfolio, making the stock its 25th largest holding. Chartwell Investment Partners LLC’s holdings in Diamondback Energy were worth $19,426,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Community Trust NA bought a new stake in Diamondback Energy during the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC grew its stake 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 acquiring an additional 55 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the second quarter valued at about $40,000. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy in the third quarter valued at about $42,000. Finally, Founders Capital Management boosted its holdings in Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on FANG. StockNews.com cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. Piper Sandler upped their price objective on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Evercore ISI lowered their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Finally, Bank of America increased their price target on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.64.

Insiders Place Their Bets

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $181.88 on Monday. The firm has a market capitalization of $53.61 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.28 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $181.77 and its two-hundred day simple moving average is $192.25. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.49 earnings per share. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.98%. Diamondback Energy’s payout ratio is 20.61%.

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.