Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by FourThought Financial Partners LLC

FourThought Financial Partners LLC decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,553 shares of the oil and natural gas company’s stock after selling 110 shares during the period. FourThought Financial Partners LLC’s holdings in Diamondback Energy were worth $706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FANG. BKM Wealth Management LLC acquired a new position in Diamondback Energy during the 4th quarter valued at approximately $27,000. BluePath Capital Management LLC acquired a new position in shares of Diamondback Energy during the third quarter valued at $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth about $34,000. CVA Family Office LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth about $35,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Diamondback Energy by 559.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 218 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on FANG shares. Morgan Stanley dropped their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Evercore ISI lifted their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Piper Sandler increased their price target on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price objective on shares of Diamondback Energy in a research note on Monday, March 4th. Finally, Susquehanna increased their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.37.

Insiders Place Their Bets

In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the transaction, the chief financial officer now owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at $18,532,416. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at $35,470,003.24. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 over the last ninety days. 0.43% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

Shares of NASDAQ FANG traded up $3.87 during trading on Friday, hitting $201.50. The company had a trading volume of 1,873,837 shares, compared to its average volume of 1,530,138. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The business’s 50-day moving average is $195.49 and its 200 day moving average is $170.84. The company has a market cap of $35.94 billion, a P/E ratio of 11.36 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.74 and a current ratio of 0.92.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the firm posted $4.10 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Equities research analysts predict that Diamondback Energy, Inc. will post 18.91 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

About Diamondback Energy

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.