Franklin Resources Inc. Purchases 66,178 Shares of Diamondback Energy Inc (FANG)

Franklin Resources Inc. grew its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 7.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 922,715 shares of the oil and natural gas company’s stock after acquiring an additional 66,178 shares during the quarter. Franklin Resources Inc. owned 0.91% of Diamondback Energy worth $124,732,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FANG. Principal Financial Group Inc. increased its stake in Diamondback Energy by 13.2% during the 1st quarter. Principal Financial Group Inc. now owns 13,523 shares of the oil and natural gas company’s stock valued at $1,711,000 after buying an additional 1,578 shares during the period. Creative Planning acquired a new position in shares of Diamondback Energy in the 2nd quarter worth approximately $274,000. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Diamondback Energy by 23.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,451 shares of the oil and natural gas company’s stock worth $848,000 after purchasing an additional 1,242 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Diamondback Energy by 10.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,786 shares of the oil and natural gas company’s stock worth $2,472,000 after purchasing an additional 1,744 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Diamondback Energy by 25.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 306,503 shares of the oil and natural gas company’s stock worth $40,327,000 after purchasing an additional 62,906 shares during the last quarter.

NASDAQ FANG opened at $112.17 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 0.64 and a beta of 0.72. Diamondback Energy Inc has a 12-month low of $103.51 and a 12-month high of $140.78.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.15. The firm had revenue of $538.03 million during the quarter, compared to analysts’ expectations of $518.32 million. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The company’s revenue was up 78.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 earnings per share. As a group, analysts anticipate that Diamondback Energy Inc will post 6.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 26th. Shareholders of record on Monday, November 19th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Friday, November 16th. Diamondback Energy’s dividend payout ratio (DPR) is presently 9.43%.

Several brokerages have recently issued reports on FANG. Raymond James reaffirmed a “buy” rating and issued a $166.00 price objective on shares of Diamondback Energy in a research note on Monday, August 13th. BMO Capital Markets reaffirmed a “hold” rating and issued a $135.00 price objective on shares of Diamondback Energy in a research note on Friday, August 17th. TD Securities set a $175.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Saturday, August 11th. Imperial Capital lifted their price objective on shares of Diamondback Energy from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Finally, Stifel Nicolaus set a $166.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $159.58.

In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total value of $255,600.00. Following the completion of the sale, the vice president now directly owns 89,532 shares in the company, valued at $11,442,189.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by insiders.

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About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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