Leeward Investments LLC MA Sells 3,447 Shares of Diamondback Energy, Inc. $FANG

Leeward Investments LLC MA lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,558 shares of the oil and natural gas company’s stock after selling 3,447 shares during the period. Leeward Investments LLC MA’s holdings in Diamondback Energy were worth $8,653,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. grew its stake in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 125 shares during the period. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy in the fourth quarter worth approximately $26,000. JPL Wealth Management LLC bought a new stake in shares of Diamondback Energy in the third quarter worth approximately $26,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in shares of Diamondback Energy in the third quarter worth approximately $38,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Diamondback Energy from $220.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Truist Financial set a $242.00 target price on Diamondback Energy in a research report on Wednesday, May 6th. Susquehanna raised their price objective on Diamondback Energy from $231.00 to $245.00 and gave the stock a “positive” rating in a report on Wednesday, May 6th. The Goldman Sachs Group raised their price objective on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Finally, Benchmark downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $218.25.

Insider Activity

In other news, EVP Matt Zmigrosky sold 20,899 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $180.00, for a total transaction of $3,761,820.00. Following the transaction, the executive vice president directly owned 60,493 shares in the company, valued at approximately $10,888,740. This trade represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Teresa L. Dick sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $190.00, for a total transaction of $950,000.00. Following the transaction, the chief accounting officer owned 107,755 shares in the company, valued at approximately $20,473,450. This represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 169,321 shares of company stock valued at $31,055,475. 0.64% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Up 1.6%

FANG opened at $203.56 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average is $191.72 and its two-hundred day moving average is $167.76. Diamondback Energy, Inc. has a 52 week low of $132.20 and a 52 week high of $214.51. The company has a market capitalization of $57.26 billion, a P/E ratio of 236.70 and a beta of 0.46.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period last year, the firm earned $4.54 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts forecast that Diamondback Energy, Inc. will post 19.04 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be paid a dividend of $1.10 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, May 14th. Diamondback Energy’s payout ratio is 511.63%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.