Moors & Cabot Inc. reduces holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Moors & Cabot Inc. reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,330 shares of the oil and natural gas company’s stock after selling 174 shares during the period. The holdings of Moors & Cabot Inc. holdings in Diamondback Energy were worth $667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have added to or reduced their stakes in the company. Founders Capital Management boosted its stake in Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 101 shares in the last quarter. First Community Trust NA acquired a new position in shares of Diamondback Energy in the second quarter valued at approximately $26,000. Logan Capital Management Inc. acquired a new position in shares of Diamondback Energy in the fourth quarter valued at about $31,000. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the second quarter valued at approximately $40,000. Finally, Edmond DE Rothschild Holding SA purchased a new position in shares of Diamondback Energy in the fourth quarter worth about $54,000. 90.01% of the shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

Several equities research analysts recently issued reports on the stock. Susquehanna decreased their price objective on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday. KeyCorp assumed coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective for the company. Truist Financial upped their price objective on shares of Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, UBS Group cut their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $209.71, according to MarketBeat.com.

Get the latest stock report on Diamondback Energy

Diamondback Energy Stock by 2.0%

Shares of Diamondback Energy stock opened at $181.63 on Friday. Diamondback Energy, Inc. it has a 52-week low of $143.08 and a 52-week high of $214.50. The company has a 50-day moving average of $192.75 and a 200-day moving average of $195.55. The company has a quick ratio of 3.64, a current ratio of 3.66, and a debt-to-equity ratio of 0.65. The company has a market cap of $32.39 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.06 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG – Get Free Report ) last posted its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. In the same quarter last year, the company earned $3.68 per share. The company’s quarterly revenue was up 29.4% year over year. As a group, research analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy is increasing its dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15. This represents a yield of 1.9%. This is an increase from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s payout ratio is currently 20.29%.

About Diamondback Energy

(Free report)

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores and operates unconventional oil and natural gas reserves in the Permian Basin of West Texas. It focuses on the development of the Spraberry and Wolfcamp formations in the Midland Basin; and the Wolfcamp and Bone Spring Formations of the Delaware Basin, which are part of the Permian Basin of West Texas and New Mexico.

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