STF Management LP Sells 133 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

STF Management LP trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,878 shares of the oil and natural gas company’s stock after selling 133 shares during the period. STF Management LP’s holdings in Diamondback Energy were worth $576,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Diamondback Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after purchasing an additional 176,208 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 16.0% during the second 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 purchasing an additional 415,902 shares in the last quarter. Boston Partners lifted 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. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Diamondback Energy by 10.1% during the second 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 purchasing an additional 247,065 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 equities analysts recently weighed in on the stock. Sanford C. Bernstein cut their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Bank of America increased their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a report on Monday. They issued a “hold” rating and a $185.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.86.

Diamondback Energy Stock Up 1.4 %

Shares of FANG stock opened at $174.81 on Tuesday. The firm has a fifty day moving average of $194.20 and a 200-day moving average of $195.81. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50. The company has a market capitalization of $31.18 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 1.06 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $3.68 earnings per share. The firm’s revenue was up 29.4% compared to the same quarter last year. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a $2.34 dividend. The ex-dividend date was Thursday, August 15th. This represents a yield of 1.9%. This is an increase from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

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.