Hartford Investment Management Co. Has $2.03 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Hartford Investment Management Co. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,790 shares of the oil and natural gas company’s stock after buying an additional 307 shares during the quarter. Hartford Investment Management Co.’s holdings in Diamondback Energy were worth $2,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Segment Wealth Management LLC boosted its stake in Diamondback Energy by 2.4% during the third quarter. Segment Wealth Management LLC now owns 71,917 shares of the oil and natural gas company’s stock worth $12,398,000 after acquiring an additional 1,705 shares in the last quarter. BLB&B Advisors LLC raised its holdings in shares of Diamondback Energy by 23.4% during the third quarter. BLB&B Advisors LLC now owns 28,239 shares of the oil and natural gas company’s stock valued at $4,868,000 after purchasing an additional 5,355 shares during the period. Stanley Laman Group Ltd. boosted its position in shares of Diamondback Energy by 1.1% during the 3rd quarter. Stanley Laman Group Ltd. now owns 22,512 shares of the oil and natural gas company’s stock worth $3,881,000 after purchasing an additional 240 shares in the last quarter. Signaturefd LLC grew its stake in shares of Diamondback Energy by 2.4% in the 3rd quarter. Signaturefd LLC now owns 3,944 shares of the oil and natural gas company’s stock valued at $680,000 after buying an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Diamondback Energy by 11.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,266 shares of the oil and natural gas company’s stock valued at $1,080,000 after buying an additional 636 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of several recent research reports. StockNews.com lowered Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Wolfe Research assumed coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Citigroup initiated coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective on the stock. Finally, Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Down 0.1 %

FANG opened at $180.91 on Friday. The company’s 50-day moving average price is $185.42 and its two-hundred day moving average price is $194.34. 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 twelve month low of $145.70 and a twelve month high of $214.50. The stock has a market cap of $32.26 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.22 and a beta of 1.89.

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

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a yield of 1.9%. This is a positive change 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.