Chartwell Investment Partners LLC Sells 11,446 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Chartwell Investment Partners LLC trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,680 shares of the oil and natural gas company's stock after selling 11,446 shares during the period. Diamondback Energy comprises about 0.7% of Chartwell Investment Partners LLC's investment portfolio, making the stock its 25th biggest position. Chartwell Investment Partners LLC's holdings in Diamondback Energy were worth $19,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company's stock valued at $1,706,076,000 after acquiring an additional 2,381,488 shares during the period. Boston Partners raised its holdings in shares of Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company's stock worth $541,844,000 after acquiring an additional 1,916,900 shares during the period. Homestead Advisers Corp purchased a new stake in Diamondback Energy in the 1st quarter valued at about $87,940,000. Diamond Hill Capital Management Inc. raised its position in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock valued at $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock valued at $603,038,000 after buying an additional 415,902 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

FANG has been the subject of several recent research reports. UBS Group decreased their price target on Diamondback Energy from $247.00 to $223.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. Royal Bank of Canada restated an "outperform" rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. Barclays upgraded shares of Diamondback Energy from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Susquehanna lowered their price target on Diamondback Energy from $237.00 to $233.00 and set a "positive" rating on the stock in a research report on Friday, October 18th. Finally, Citigroup began coverage on Diamondback Energy in a research note on Monday, October 14th. They issued a "neutral" rating and a $195.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy has an average rating of "Moderate Buy" and an average target price of $209.64.

Diamondback Energy Stock Performance

FANG traded down $1.54 during trading on Monday, hitting $180.34. 1,099,204 shares of the company traded hands, compared to its average volume of 1,746,435. The company has a quick ratio of 3.64, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market cap of $53.15 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 1.28 and a beta of 1.89. The stock's fifty day moving average is $181.77 and its 200 day moving average is $192.15. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm earned $5.49 EPS. The business's revenue was up 13.0% on a year-over-year basis. As a group, equities analysts predict that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.00%. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.

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.