Graypoint LLC Lowers Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Graypoint LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,964 shares of the oil and natural gas company’s stock after selling 217 shares during the quarter. Graypoint LLC’s holdings in Diamondback Energy were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $42,000. CVA Family Office LLC boosted its position in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after purchasing an additional 136 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Diamondback Energy in the third quarter valued at $52,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on FANG shares. Evercore ISI lowered their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Raymond James increased their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 19th. KeyCorp reduced their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Piper Sandler lowered their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.83.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 2.2 %

FANG opened at $174.77 on Monday. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The company has a market capitalization of $51.03 billion, a P/E ratio of 10.00, a PEG ratio of 1.19 and a beta of 1.88. The stock’s fifty day moving average is $170.76 and its two-hundred day moving average is $183.77. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm earned $5.49 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. Analysts forecast that Diamondback Energy, Inc. will post 16.51 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.06%. Diamondback Energy’s payout ratio is presently 20.61%.

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.