Shell Asset Management Co. Cuts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Shell Asset Management Co. lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,785 shares of the oil and natural gas company’s stock after selling 1,380 shares during the quarter. Shell Asset Management Co.’s holdings in Diamondback Energy were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. BKM Wealth Management LLC purchased a new position in shares of Diamondback Energy in the 4th quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Diamondback Energy during the fourth quarter worth about $34,000. CVA Family Office LLC purchased a new position in Diamondback Energy in the fourth quarter valued at about $35,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Diamondback Energy by 559.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after acquiring an additional 218 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in shares of Diamondback Energy by 37.3% during the 4th quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FANG. Susquehanna raised their price objective on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Mizuho raised their price target on Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research report on Monday, May 13th. BMO Capital Markets boosted their price objective on shares of Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 13th. Stifel Nicolaus increased their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Truist Financial lifted their target price on shares of Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $207.80.

Read Our Latest Stock Analysis on Diamondback Energy

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the sale, the chief financial officer now directly owns 185,882 shares in the company, valued at $35,470,003.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the transaction, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the sale, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,575 shares of company stock worth $12,673,846. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Up 1.9 %

Shares of NASDAQ:FANG opened at $193.97 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a market cap of $34.59 billion, a price-to-earnings ratio of 10.93 and a beta of 1.90. The stock’s 50-day moving average price is $199.72 and its two-hundred day moving average price is $177.60. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the company earned $4.10 earnings per share. On average, research analysts forecast that Diamondback Energy, Inc. will post 19.1 EPS for the current year.

Diamondback Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

About Diamondback Energy

(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.

Further Reading

Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy, Inc. (NASDAQ:FANGFree Report).

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

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.