Dakota Wealth Management Sells 437 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Dakota Wealth Management reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 20.3% in the 4th quarter, HoldingsChannel reports. The firm owned 1,712 shares of the oil and natural gas company’s stock after selling 437 shares during the period. Dakota Wealth Management’s holdings in Diamondback Energy were worth $280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. Thrivent Financial for Lutherans raised its stake in shares of Diamondback Energy by 2.8% in the second quarter. Thrivent Financial for Lutherans now owns 26,441 shares of the oil and natural gas company’s stock valued at $5,294,000 after acquiring an additional 728 shares during the last quarter. AXA S.A. raised its position in Diamondback Energy by 35.4% in the 2nd quarter. AXA S.A. now owns 25,167 shares of the oil and natural gas company’s stock valued at $5,038,000 after purchasing an additional 6,575 shares during the last quarter. MBB Public Markets I LLC bought a new stake in shares of Diamondback Energy during the second quarter worth $2,493,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Diamondback Energy in the second quarter valued at $213,000. Finally, Oliver Lagore Vanvalin Investment Group raised 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 buying an additional 136 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Benchmark restated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Piper Sandler lowered their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Evercore ISI decreased their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. The Goldman Sachs Group began coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Finally, StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Read Our Latest Stock Analysis on Diamondback Energy

Diamondback Energy Stock Performance

Shares of FANG stock opened at $173.26 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The company’s 50 day moving average price is $170.28 and its two-hundred day moving average price is $182.26. The company has a market capitalization of $50.59 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANGGet Free Report) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.49 earnings per share. On average, analysts expect that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Profile

(Free Report)

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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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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