Raymond James Trust N.A. Has $3 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Raymond James Trust N.A. raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 21.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,370 shares of the oil and natural gas company’s stock after buying an additional 3,019 shares during the quarter. Raymond James Trust N.A.’s holdings in Diamondback Energy were worth $2,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FANG. Bank of New York Mellon Corp boosted its stake in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after acquiring an additional 415,902 shares during the last quarter. Boston Partners boosted its position in shares of Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after purchasing an additional 1,916,900 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Diamondback Energy by 9.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after buying an additional 230,689 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Diamondback Energy by 10.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after buying an additional 247,065 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Diamondback Energy by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,282,557 shares of the oil and natural gas company’s stock worth $456,930,000 after acquiring an additional 87,288 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on FANG. Evercore ISI lowered their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Jefferies Financial Group initiated coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target on the stock. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Finally, Susquehanna cut their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $212.00.

Diamondback Energy Stock Performance

Shares of FANG opened at $185.29 on Friday. The company has a market cap of $54.10 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.32 and a beta of 1.89. The firm has a 50-day moving average of $182.15 and a 200-day moving average of $190.81. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the firm posted $5.49 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 16.37 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is presently 20.61%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate 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.