Mutual of America Capital Management LLC Sells 1,076 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Mutual of America Capital Management LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,953 shares of the oil and natural gas company’s stock after selling 1,076 shares during the period. Mutual of America Capital Management LLC’s holdings in Diamondback Energy were worth $3,715,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. BKM Wealth Management LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth $27,000. BluePath Capital Management LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter worth $32,000. FinTrust Capital Advisors LLC lifted its position in shares of Diamondback Energy by 232.8% during the 4th quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth $34,000. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now owns 185,882 shares in the company, valued at $35,470,003.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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. Insiders sold 57,675 shares of company stock valued at $11,311,096 over the last 90 days. Company insiders own 0.43% of the company’s stock.

Diamondback Energy Trading Down 0.7 %

NASDAQ FANG opened at $203.95 on Wednesday. The business has a 50 day simple moving average of $187.00 and a 200 day simple moving average of $166.74. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96. The stock has a market capitalization of $36.37 billion, a P/E ratio of 11.76 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping 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 business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm posted $5.29 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Research analysts expect that Diamondback Energy, Inc. will post 18.47 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a dividend of $3.08 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a yield of 6.04%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.76%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler upped their price objective on Diamondback Energy from $222.00 to $227.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Evercore ISI increased their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. BMO Capital Markets increased their target price on Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research report on Tuesday, February 13th. KeyCorp increased their target price on Diamondback Energy from $186.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Morgan Stanley dropped their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.95.

About Diamondback Energy

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.