Wesbanco Bank Inc. boosted its stake in shares of Diamondback Energy Inc (NASDAQ:FANG) by 75.6% in the third quarter, HoldingsChannel.com reports. The firm owned 45,918 shares of the oil and natural gas company’s stock after purchasing an additional 19,767 shares during the quarter. Wesbanco Bank Inc.’s holdings in Diamondback Energy were worth $6,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in shares of Diamondback Energy by 13.2% during the first quarter. Principal Financial Group Inc. now owns 13,523 shares of the oil and natural gas company’s stock worth $1,711,000 after acquiring an additional 1,578 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Diamondback Energy during the second quarter worth $1,132,000. Creative Planning bought a new position in shares of Diamondback Energy during the second quarter worth $274,000. Unigestion Holding SA bought a new position in shares of Diamondback Energy during the second quarter worth $3,329,000. Finally, Signature Estate & Investment Advisors LLC boosted its position in shares of Diamondback Energy by 15.6% during the second quarter. Signature Estate & Investment Advisors LLC now owns 8,647 shares of the oil and natural gas company’s stock worth $1,138,000 after acquiring an additional 1,170 shares during the last quarter.

In other news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction 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 sale, the vice president now owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

FANG has been the subject of a number of research reports. Morgan Stanley set a $171.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Friday, October 12th. SunTrust Banks restated a “buy” rating and set a $170.00 target price on shares of Diamondback Energy in a research report on Friday, August 10th. KLR Group reaffirmed a “buy” rating and set a $211.00 price target on shares of Diamondback Energy in a research note on Monday, August 20th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $183.00 price target on shares of Diamondback Energy in a research note on Wednesday, October 24th. Finally, BidaskClub raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy has a consensus rating of “Buy” and an average price target of $157.18.

Shares of FANG opened at $110.41 on Wednesday. Diamondback Energy Inc has a twelve month low of $105.66 and a twelve month high of $140.78. The firm has a market capitalization of $11.52 billion, a PE ratio of 20.83, a PEG ratio of 0.65 and a beta of 0.70. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.15. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The business had revenue of $538.03 million for the quarter, compared to the consensus estimate of $518.32 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 78.6% on a year-over-year basis. On average, equities research analysts predict that Diamondback Energy Inc will post 6.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 19th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, November 16th. Diamondback Energy’s dividend payout ratio is currently 9.43%.

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Diamondback Energy Profile

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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