Tortoise Capital Advisors L.L.C. Sells 17,687 Shares of Diamondback Energy, Inc. $FANG

Tortoise Capital Advisors L.L.C. reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 21.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,974 shares of the oil and natural gas company’s stock after selling 17,687 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Diamondback Energy were worth $10,228,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Monetary Management Group Inc. raised its position in shares of Diamondback Energy by 40.6% in the first quarter. Monetary Management Group Inc. now owns 2,250 shares of the oil and natural gas company’s stock valued at $360,000 after purchasing an additional 650 shares during the period. Norinchukin Bank The grew its stake in shares of Diamondback Energy by 52.8% in the first quarter. Norinchukin Bank The now owns 19,641 shares of the oil and natural gas company’s stock valued at $3,140,000 after acquiring an additional 6,786 shares in the last quarter. Martin Investment Management LLC grew its stake in shares of Diamondback Energy by 0.7% in the first quarter. Martin Investment Management LLC now owns 26,597 shares of the oil and natural gas company’s stock valued at $4,252,000 after acquiring an additional 187 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Diamondback Energy by 13.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,588 shares of the oil and natural gas company’s stock valued at $254,000 after acquiring an additional 187 shares in the last quarter. Finally, GDS Wealth Management grew its stake in shares of Diamondback Energy by 5.6% in the first quarter. GDS Wealth Management now owns 107,653 shares of the oil and natural gas company’s stock valued at $17,212,000 after acquiring an additional 5,753 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FANG has been the topic of a number of analyst reports. Melius initiated coverage on shares of Diamondback Energy in a research note on Wednesday. They set a “buy” rating and a $213.00 price objective on the stock. Bank of America increased their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Evercore ISI initiated coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price objective on the stock. UBS Group increased their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Melius Research initiated coverage on shares of Diamondback Energy in a research note on Wednesday. They set a “buy” rating and a $213.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $193.33.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares in the company, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Trading Up 0.1%

FANG opened at $138.00 on Friday. The company’s 50 day moving average is $143.02 and its 200-day moving average is $143.96. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $200.47. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The company has a market cap of $39.95 billion, a P/E ratio of 9.81 and a beta of 1.09.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the business posted $4.52 earnings per share. The company’s revenue for the quarter was up 48.1% on a year-over-year basis. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 28.43%.

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.