Sentinel Trust Co. LBA decreased its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 33.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,342 shares of the oil and natural gas company’s stock after selling 1,166 shares during the quarter. Sentinel Trust Co. LBA’s holdings in Diamondback Energy were worth $308,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. BlueMountain Capital Management LLC purchased a new stake in Diamondback Energy in the second quarter valued at $64,179,000. Lord Abbett & CO. LLC boosted its holdings in Diamondback Energy by 223.0% in the first quarter. Lord Abbett & CO. LLC now owns 666,299 shares of the oil and natural gas company’s stock valued at $84,300,000 after purchasing an additional 459,995 shares during the last quarter. Capital Growth Management LP purchased a new stake in Diamondback Energy in the first quarter valued at $51,241,000. Arosa Capital Management LP purchased a new stake in Diamondback Energy in the first quarter valued at $34,257,000. Finally, Legal & General Group Plc boosted its holdings in Diamondback Energy by 206.8% in the first quarter. Legal & General Group Plc now owns 401,479 shares of the oil and natural gas company’s stock valued at $50,795,000 after purchasing an additional 270,607 shares during the last quarter.

FANG has been the topic of several recent research reports. SunTrust Banks reaffirmed a “buy” rating and issued a $170.00 price target on shares of Diamondback Energy in a report on Friday, August 10th. Morgan Stanley upped their price target on shares of Diamondback Energy from $161.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, May 24th. KLR Group reaffirmed a “buy” rating and issued a $211.00 price target on shares of Diamondback Energy in a report on Monday, August 20th. TD Securities set a $175.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a report on Saturday, August 11th. Finally, Raymond James reaffirmed a “buy” rating and issued a $166.00 price target on shares of Diamondback Energy in a report on Monday, August 13th. Five analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Diamondback Energy currently has a consensus rating of “Buy” and an average target price of $154.18.

FANG opened at $121.73 on Monday. Diamondback Energy Inc has a twelve month low of $93.16 and a twelve month high of $138.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.54 and a quick ratio of 0.52. The stock has a market cap of $11.88 billion, a P/E ratio of 22.97, a P/E/G ratio of 0.75 and a beta of 0.62.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.05). Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The company had revenue of $526.30 million for the quarter, compared to analyst estimates of $479.57 million. During the same quarter last year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 95.4% on a year-over-year basis. sell-side analysts expect that Diamondback Energy Inc will post 6.35 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 27th. Investors of record on Monday, August 20th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 17th. This represents a $0.50 annualized dividend and a dividend yield of 0.41%. Diamondback Energy’s dividend payout ratio (DPR) is presently 9.43%.

In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 832 shares of the stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total value of $106,878.72. Following the completion of the sale, the vice president now owns 6,897 shares in the company, valued at approximately $885,988.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael L. Hollis sold 5,000 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $128.85, for a total transaction of $644,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,972 shares of company stock valued at $768,014. Insiders own 0.57% of the company’s stock.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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

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