Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Allworth Financial LP

Allworth Financial LP reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 34.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,179 shares of the oil and natural gas company’s stock after selling 609 shares during the period. Allworth Financial LP’s holdings in Diamondback Energy were worth $183,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FANG. Wellington Management Group LLP boosted its stake in Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after purchasing an additional 648,317 shares during the period. State Street Corp increased its holdings in shares of Diamondback Energy by 1.0% in the 1st quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock valued at $1,575,653,000 after purchasing an additional 112,297 shares during the period. Geode Capital Management LLC raised its holdings in shares of Diamondback Energy by 4.8% during the first quarter. Geode Capital Management LLC now owns 3,919,925 shares of the oil and natural gas company’s stock worth $528,736,000 after acquiring an additional 179,405 shares in the last quarter. Morgan Stanley grew its position in Diamondback Energy by 2.5% in the fourth quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock worth $488,590,000 after acquiring an additional 85,618 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Diamondback Energy by 6.6% in the third quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock valued at $514,289,000 after purchasing an additional 206,189 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BMO Capital Markets increased their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research note on Tuesday, February 13th. Evercore ISI upped their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. KeyCorp boosted their price objective on shares of Diamondback Energy from $186.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Royal Bank of Canada reissued an “outperform” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Monday, March 4th. Finally, Scotiabank raised their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $196.05.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $208.26 on Friday. The stock’s 50-day simple moving average is $183.73 and its 200 day simple moving average is $165.53. The firm has a market capitalization of $37.14 billion, a PE ratio of 12.01 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $208.49.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. Diamondback Energy’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.29 earnings per share. On average, analysts anticipate that Diamondback Energy, Inc. will post 18.35 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a dividend yield of 5.92%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s dividend payout ratio (DPR) is 20.76%.

Insider Activity at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the sale, the executive vice president now owns 44,445 shares of the company’s stock, valued at approximately $8,619,663.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. In the last three months, insiders sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is owned by 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.