International Assets Investment Management LLC Reduces Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

International Assets Investment Management LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 99.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,903 shares of the oil and natural gas company’s stock after selling 338,118 shares during the period. International Assets Investment Management LLC’s holdings in Diamondback Energy were worth $317,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Carolinas Wealth Consulting LLC lifted its stake in Diamondback Energy by 67.1% in 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 purchasing an additional 55 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy during the third quarter worth $42,000. CVA Family Office LLC lifted its position in shares of 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. Oliver Lagore Vanvalin Investment Group lifted its position in shares of Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after acquiring an additional 136 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy during the third quarter worth $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 2.2 %

Shares of NASDAQ:FANG opened at $174.77 on Monday. The stock’s 50-day moving average price is $170.76 and its 200-day moving average price is $183.77. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The stock has a market capitalization of $51.03 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. 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) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the business posted $5.49 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 16.51 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. 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 2.06%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup assumed coverage on Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price on the stock. The Goldman Sachs Group assumed 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. Jefferies Financial Group assumed coverage on Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. Truist Financial upped their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $209.83.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated 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 sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.