Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Davidson Capital Management Inc.

Davidson Capital Management Inc. trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,486 shares of the oil and natural gas company’s stock after selling 586 shares during the period. Diamondback Energy accounts for approximately 0.8% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 27th biggest holding. Davidson Capital Management Inc.’s holdings in Diamondback Energy were worth $2,956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock valued at $1,496,859,000 after purchasing an additional 928,429 shares during the period. Boston Partners boosted its position in Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after buying an additional 571,820 shares during the last quarter. Geode Capital Management LLC increased its holdings in Diamondback Energy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock worth $769,706,000 after buying an additional 91,605 shares during the period. Bank of New York Mellon Corp lifted its stake in Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after acquiring an additional 502,916 shares during the period. Finally, Demars Financial Group LLC lifted its stake in Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock valued at $655,953,000 after acquiring an additional 208,200 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 2.7%

FANG opened at $148.78 on Thursday. The company has a market cap of $43.47 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 1.39 and a beta of 1.06. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The company has a 50-day moving average price of $138.27 and a 200 day moving average price of $152.13. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business’s revenue was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.50 earnings per share. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.69%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio is currently 24.46%.

Analyst Ratings Changes

FANG has been the topic of a number of research reports. KeyCorp cut their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Scotiabank decreased their price objective on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Piper Sandler dropped their target price on Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Finally, Mizuho reduced their price target on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $193.13.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the completion of the sale, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by 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.