Avior Wealth Management LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 33.3% in the fourth quarter, Holdings Channel reports. The fund owned 1,276 shares of the oil and natural gas company’s stock after selling 638 shares during the quarter. Avior Wealth Management LLC’s holdings in Diamondback Energy were worth $209,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. raised its position in Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after purchasing an additional 47,951 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after buying an additional 7,694 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Diamondback Energy during the 4th quarter worth approximately $1,053,000. Geode Capital Management LLC grew its holdings in Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares during the last quarter. Finally, Atria Investments Inc increased its position in Diamondback Energy by 18.5% in the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after acquiring an additional 6,672 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on FANG shares. Scotiabank cut their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. UBS Group cut their target price on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Piper Sandler decreased their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $215.00.
Diamondback Energy Stock Performance
NASDAQ FANG opened at $171.60 on Tuesday. The company has a market cap of $50.11 billion, a P/E ratio of 9.82, a PEG ratio of 1.44 and a beta of 1.88. The company has a fifty day simple moving average of $170.28 and a 200 day simple moving average of $181.97. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.49 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.
Diamondback Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.10%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.
Insider Activity at Diamondback Energy
In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by company 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.
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