Advisory Services Network LLC lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 7.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,286 shares of the oil and natural gas company’s stock after selling 1,552 shares during the period. Advisory Services Network LLC’s holdings in Diamondback Energy were worth $3,624,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC grew its stake in shares of Diamondback Energy by 1.8% in the 4th quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock valued at $3,058,000 after buying an additional 354 shares during the period. Franklin Resources Inc. grew its position in Diamondback Energy by 14.1% in the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after acquiring an additional 6,240 shares during the period. Raymond James Trust N.A. increased its stake in Diamondback Energy by 145.2% during the fourth quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock worth $1,860,000 after acquiring an additional 7,102 shares during the last quarter. Larson Financial Group LLC raised its position in Diamondback Energy by 748.0% in the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock valued at $2,361,000 after purchasing an additional 13,426 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Diamondback Energy by 613.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock valued at $2,388,000 after purchasing an additional 13,243 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.
Diamondback Energy Price Performance
Shares of NASDAQ FANG opened at $204.17 on Friday. The stock’s 50-day simple moving average is $197.09 and its 200-day simple moving average is $184.77. The firm has a market capitalization of $36.41 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.90. Diamondback Energy, Inc. has a fifty-two week low of $134.68 and a fifty-two week high of $211.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the company earned $4.10 earnings per share. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 18.93 EPS for the current fiscal year.
Diamondback Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s payout ratio is 20.29%.
Insider Transactions at Diamondback Energy
In related news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares in the company, valued at $13,736,123.78. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on FANG. Wells Fargo & Company cut their price objective on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI upped their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Sanford C. Bernstein initiated coverage on shares of Diamondback Energy in a report on Thursday, June 6th. They issued an “outperform” rating and a $243.00 target price for the company. Truist Financial raised their price target on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, Susquehanna lifted their price objective on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.85.
View Our Latest Research Report on FANG
Diamondback Energy Company 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.
Further Reading
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