Milestone Asset Management LLC Acquires Shares of 4,381 Diamondback Energy, Inc. $FANG

by · The Cerbat Gem

Milestone Asset Management LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,381 shares of the oil and natural gas company’s stock, valued at approximately $602,000.

A number of other institutional investors have also recently made changes to their positions in the company. Huntington National Bank boosted its stake in shares of Diamondback Energy by 8.0% in the second quarter. Huntington National Bank now owns 2,175 shares of the oil and natural gas company’s stock worth $299,000 after acquiring an additional 162 shares during the last quarter. Fullcircle Wealth LLC increased its stake in Diamondback Energy by 3.7% during the second quarter. Fullcircle Wealth LLC now owns 2,385 shares of the oil and natural gas company’s stock worth $352,000 after acquiring an additional 85 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Diamondback Energy by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after acquiring an additional 384,971 shares during the last quarter. Sigma Planning Corp increased its stake in Diamondback Energy by 2.6% during the second quarter. Sigma Planning Corp now owns 4,671 shares of the oil and natural gas company’s stock worth $642,000 after acquiring an additional 118 shares during the last quarter. Finally, South Dakota Investment Council grew its stake in shares of Diamondback Energy by 1.2% in the second quarter. South Dakota Investment Council now owns 96,570 shares of the oil and natural gas company’s stock valued at $13,269,000 after buying an additional 1,105 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FANG shares. William Blair assumed coverage on Diamondback Energy in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Mizuho lowered their price objective on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Barclays reduced their target price on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Piper Sandler reduced their target price on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Finally, Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $188.41.

Check Out Our Latest Analysis on FANG

Diamondback Energy Stock Performance

Shares of FANG stock opened at $139.42 on Wednesday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.07. The company has a market cap of $40.36 billion, a price-to-earnings ratio of 9.69 and a beta of 0.99. The stock has a 50 day simple moving average of $142.78 and a 200-day simple moving average of $141.66. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG – Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.81% and a net margin of 27.32%.The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the business posted $3.19 EPS. Diamondback Energy’s quarterly revenue was up 48.4% on a year-over-year basis. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 13th. Diamondback Energy’s dividend payout ratio (DPR) is presently 28.43%.

Insiders Place Their Bets

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 stock was 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 directly owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by insiders.

About Diamondback Energy

(Free Report)

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.

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