Redwood Investments LLC Sells 8,477 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Redwood Investments LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 31.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,599 shares of the oil and natural gas company’s stock after selling 8,477 shares during the period. Redwood Investments LLC’s holdings in Diamondback Energy were worth $2,884,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC grew its position in Diamondback Energy by 3.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock valued at $278,000 after acquiring an additional 64 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Diamondback Energy by 1.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock valued at $566,000 after acquiring an additional 64 shares during the last quarter. Veracity Capital LLC grew its holdings in shares of Diamondback Energy by 3.5% in the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock worth $319,000 after purchasing an additional 70 shares during the last quarter. Moody National Bank Trust Division grew its holdings in shares of Diamondback Energy by 0.8% in the third quarter. Moody National Bank Trust Division now owns 9,231 shares of the oil and natural gas company’s stock worth $1,430,000 after purchasing an additional 76 shares during the last quarter. Finally, Simmons Bank grew its holdings in shares of Diamondback Energy by 1.2% in the third quarter. Simmons Bank now owns 6,564 shares of the oil and natural gas company’s stock worth $1,017,000 after purchasing an additional 81 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the transaction, the chief operating officer now directly owns 78,218 shares in the company, valued at $15,031,153.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The disclosure for this sale can be found here. Insiders sold 27,675 shares of company stock worth $5,311,096 over the last three months. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Scotiabank raised their target price on shares of Diamondback Energy from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Tuesday, February 13th. KeyCorp raised their target price on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Susquehanna raised their target price on shares of Diamondback Energy from $190.00 to $195.00 and gave the stock a “positive” rating in a report on Tuesday, February 13th. Mizuho raised their target price on shares of Diamondback Energy from $177.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Evercore ISI raised their price target on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $190.11.

Check Out Our Latest Report on Diamondback Energy

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $198.17 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $35.36 billion, a P/E ratio of 11.43 and a beta of 1.92. The business has a fifty day simple moving average of $174.78 and a two-hundred day simple moving average of $162.50. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $198.53.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $5.29 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Diamondback Energy, Inc. will post 17.93 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a dividend of $3.08 per share. The ex-dividend date was Monday, March 4th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a dividend yield of 6.22%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Diamondback Energy Company 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.

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

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