Navellier & Associates Inc. Sells 381 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Navellier & Associates Inc. lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,360 shares of the oil and natural gas company’s stock after selling 381 shares during the period. Navellier & Associates Inc.’s holdings in Diamondback Energy were worth $1,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FANG. Wealth Enhancement Advisory Services LLC increased its stake in shares of Diamondback Energy by 178.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after purchasing an additional 19,552 shares during the period. Atria Investments Inc boosted its stake in Diamondback Energy by 18.5% in the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after buying an additional 6,672 shares in the last quarter. Cullen Investment Group LTD. grew its holdings in shares of Diamondback Energy by 33.5% during the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after purchasing an additional 3,008 shares during the last quarter. ORG Partners LLC grew its position in Diamondback Energy by 2,768.9% during the 2nd quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock worth $883,000 after acquiring an additional 4,181 shares during the last quarter. Finally, Parkside Investments LLC acquired a new position in Diamondback Energy in the 2nd quarter valued at approximately $601,000. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated 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 owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FANG shares. Citigroup began coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective for the company. Raymond James increased their price target on Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a report on Tuesday. JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price objective on the stock. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Finally, Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $212.00.

Diamondback Energy Trading Up 0.8 %

NASDAQ:FANG opened at $182.85 on Thursday. 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, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a market cap of $53.39 billion, a P/E ratio of 10.39, a P/E/G ratio of 1.32 and a beta of 1.89. The stock’s fifty day moving average price is $181.65 and its two-hundred day moving average price is $191.00.

Diamondback Energy (NASDAQ:FANG) last posted 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the company posted $5.49 EPS. As a group, analysts expect that Diamondback Energy, Inc. will post 16.37 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.97%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.