Cornercap Investment Counsel Inc. Has $1.25 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Cornercap Investment Counsel Inc. lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 42.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,248 shares of the oil and natural gas company’s stock after selling 5,257 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Diamondback Energy were worth $1,250,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in shares of Diamondback Energy by 7.7% during the third quarter. CIBC Asset Management Inc now owns 56,299 shares of the oil and natural gas company’s stock valued at $9,706,000 after buying an additional 4,020 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in Diamondback Energy by 12.0% in the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,669 shares of the oil and natural gas company’s stock valued at $460,000 after acquiring an additional 286 shares in the last quarter. ING Groep NV lifted its position in shares of Diamondback Energy by 399.6% in the 3rd quarter. ING Groep NV now owns 18,111 shares of the oil and natural gas company’s stock worth $3,122,000 after acquiring an additional 14,486 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Diamondback Energy by 391.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,902 shares of the oil and natural gas company’s stock worth $1,018,000 after purchasing an additional 4,702 shares in the last quarter. Finally, Metis Global Partners LLC raised its stake in shares of Diamondback Energy by 12.3% in the third quarter. Metis Global Partners LLC now owns 7,689 shares of the oil and natural gas company’s stock valued at $1,326,000 after purchasing an additional 845 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on FANG shares. Scotiabank lowered their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Evercore ISI cut their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. UBS Group dropped their target price on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Benchmark reaffirmed a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, Wolfe Research initiated coverage on Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

Diamondback Energy Trading Up 0.6 %

NASDAQ FANG opened at $182.42 on Friday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The stock has a 50-day simple moving average of $181.26 and a 200 day simple moving average of $191.70. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $53.26 billion, a PE ratio of 10.44, a P/E/G ratio of 1.30 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $5.49 earnings per share. Research analysts forecast that Diamondback Energy, Inc. will post 16.78 EPS for the current year.

Diamondback Energy Announces Dividend

The company 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. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insider Buying and Selling

In other 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 value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company 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.