Mount Lucas Management LP Sells 6,916 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Mount Lucas Management LP reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 59.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,671 shares of the oil and natural gas company's stock after selling 6,916 shares during the quarter. Mount Lucas Management LP's holdings in Diamondback Energy were worth $805,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Community Trust NA acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC grew its stake in shares of 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 acquiring an additional 55 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Diamondback Energy in the 2nd quarter worth about $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy in the third quarter worth $42,000. Finally, Founders Capital Management grew its position in Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company's stock valued at $50,000 after buying an additional 125 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FANG has been the topic of a number of research reports. StockNews.com raised shares of Diamondback Energy from a "sell" rating to a "hold" rating in a report on Wednesday. Bank of America boosted their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a "neutral" rating in a research note on Tuesday, July 23rd. UBS Group cut their price target on Diamondback Energy from $247.00 to $223.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Evercore ISI lowered their price objective on Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating on the stock in a research note on Monday, September 30th. Finally, Barclays raised shares of Diamondback Energy from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $209.64.

Diamondback Energy Stock Down 3.2 %

FANG traded down $5.82 on Friday, hitting $176.60. The company had a trading volume of 2,123,445 shares, compared to its average volume of 1,888,264. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The firm has a market capitalization of $51.57 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.26 and a beta of 1.89. The stock has a fifty day simple moving average of $181.16 and a 200-day simple moving average of $191.36.

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

Diamondback Energy Dividend Announcement

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 dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company's stock in a transaction that occurred on 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 directly owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the insider now directly owns 1,037,819 shares of the company's stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

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.