Heartland Bank & Trust Co Sells 56 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Heartland Bank & Trust Co cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,533 shares of the oil and natural gas company’s stock after selling 56 shares during the quarter. Heartland Bank & Trust Co’s holdings in Diamondback Energy were worth $264,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. First Community Trust NA acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at $26,000. Carolinas Wealth Consulting LLC increased its position in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy in the second quarter valued at $40,000. Founders Capital Management boosted its position in shares of Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG stock opened at $180.91 on Friday. The company has a market cap of $32.26 billion, a P/E ratio of 10.20, a PEG ratio of 1.22 and a beta of 1.89. The stock’s 50-day moving average is $185.42 and its 200 day moving average is $194.34. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (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 company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the company posted $3.68 EPS. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. Research analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a $2.34 dividend. This represents a yield of 1.9%. The ex-dividend date was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Insider Buying and Selling

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on FANG shares. Scotiabank dropped their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. began coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research note on Tuesday, September 17th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Benchmark boosted their target price on shares of Diamondback Energy from $154.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.09.

Diamondback Energy Profile

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.