EULAV Asset Management Has $8.79 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

EULAV Asset Management decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,000 shares of the oil and natural gas company's stock after selling 6,000 shares during the period. EULAV Asset Management's holdings in Diamondback Energy were worth $8,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Community Trust NA bought a new stake in shares of Diamondback Energy during the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC lifted its holdings in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock worth $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Diamondback Energy during the second quarter worth approximately $40,000. Values First Advisors Inc. acquired a new position in Diamondback Energy during the third quarter valued at approximately $42,000. Finally, Founders Capital Management raised its position in shares of Diamondback Energy by 99.2% in the second 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 during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $180.12 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a market cap of $52.59 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.26 and a beta of 1.89. The stock has a fifty day moving average price of $181.39 and a 200-day moving average price of $191.07.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the company earned $5.49 earnings per share. The company's quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research analyst reports. Benchmark reissued a "buy" rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Johnson Rice cut Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, September 24th. Morgan Stanley raised their target price on Diamondback Energy from $185.00 to $198.00 and gave the company an "overweight" rating in a report on Monday, September 16th. Evercore ISI cut their price target on Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Finally, BMO Capital Markets upgraded shares of Diamondback Energy from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $212.00.

Insider Buying and Selling at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company's stock in a transaction on 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. This represents a 92.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

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.

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