Diamondback Energy, Inc. $FANG Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 55,090 shares of the oil and natural gas company’s stock after selling 5,280 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Diamondback Energy were worth $8,282,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FANG. Diversified Trust Co. lifted its position in shares of Diamondback Energy by 2.6% during the fourth quarter. Diversified Trust Co. now owns 27,366 shares of the oil and natural gas company’s stock worth $4,114,000 after purchasing an additional 691 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of Diamondback Energy by 2.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock valued at $410,000 after purchasing an additional 78 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Diamondback Energy by 6.5% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,221 shares of the oil and natural gas company’s stock valued at $634,000 after purchasing an additional 257 shares in the last quarter. Hardin Capital Partners LLC increased its stake in Diamondback Energy by 5.2% during the 4th quarter. Hardin Capital Partners LLC now owns 2,159 shares of the oil and natural gas company’s stock worth $325,000 after buying an additional 107 shares during the period. Finally, Fulton Bank N.A. increased its stake in Diamondback Energy by 1.8% during the 4th quarter. Fulton Bank N.A. now owns 4,400 shares of the oil and natural gas company’s stock worth $661,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group increased their price objective on Diamondback Energy from $194.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. The Goldman Sachs Group upped their price target on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Citigroup reduced their price target on Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. TD Cowen upgraded Diamondback Energy to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Roth Mkm reissued a “buy” rating and set a $180.00 price objective on shares of Diamondback Energy in a research report on Tuesday, February 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $196.81.

Insider Buying and Selling at Diamondback Energy

In other news, Director Steven E. West sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total value of $1,130,100.00. Following the completion of the transaction, the director directly owned 4,484 shares of the company’s stock, valued at $844,561.40. The trade was a 57.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Travis D. Stice sold 63,957 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $181.16, for a total value of $11,586,450.12. Following the sale, the chairman directly owned 305,314 shares in the company, valued at approximately $55,310,684.24. The trade was a 17.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,209,212 shares of company stock worth $199,689,401. 0.70% of the stock is currently owned by insiders.

Diamondback Energy Stock Down 0.2%

Shares of NASDAQ:FANG opened at $201.84 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $173.12 and its 200-day simple moving average is $155.90. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $204.91. The company has a market cap of $56.78 billion, a price-to-earnings ratio of 35.98 and a beta of 0.59.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. The company had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same quarter in the prior year, the business earned $3.67 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were given a $1.05 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, March 5th. Diamondback Energy’s dividend payout ratio (DPR) is currently 74.87%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.