Brighton Jones LLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 79.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,605 shares of the oil and natural gas company’s stock after selling 6,350 shares during the period. Brighton Jones LLC’s holdings in Diamondback Energy were worth $263,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. UMB Bank n.a. raised its holdings in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter worth $42,000. CVA Family Office LLC lifted its holdings in Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Diamondback Energy in the third quarter valued at about $52,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of Diamondback Energy during the second quarter worth about $74,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Diamondback Energy Stock Performance
Shares of NASDAQ FANG opened at $171.60 on Tuesday. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The stock has a 50 day moving average of $170.28 and a 200-day moving average of $181.97. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $50.11 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.44 and a beta of 1.88.
Diamondback Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on FANG shares. Benchmark reiterated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Susquehanna lowered their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Scotiabank cut their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. UBS Group lowered their target price on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a report on Monday, December 9th. Finally, Citigroup initiated coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.00.
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Insider Activity at Diamondback Energy
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate 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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