Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by FourThought Financial Partners LLC

FourThought Financial Partners LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,553 shares of the oil and natural gas company’s stock after selling 110 shares during the quarter. FourThought Financial Partners LLC’s holdings in Diamondback Energy were worth $706,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FANG. CWM LLC lifted its holdings in Diamondback Energy by 1.8% during the 4th quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock worth $3,058,000 after buying an additional 354 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in Diamondback Energy by 145.2% in the fourth quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after purchasing an additional 7,102 shares in the last quarter. Larson Financial Group LLC raised its holdings in Diamondback Energy by 748.0% during the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after purchasing an additional 13,426 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Diamondback Energy by 613.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after purchasing an additional 13,243 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Diamondback Energy by 143.0% in the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after buying an additional 577,514 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

NASDAQ FANG traded up $3.87 on Friday, hitting $201.50. 1,873,837 shares of the company’s stock were exchanged, compared to its average volume of 1,530,138. The firm has a market cap of $35.94 billion, a price-to-earnings ratio of 11.36 and a beta of 1.91. The firm’s 50-day moving average price is $195.49 and its two-hundred day moving average price is $170.84. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.74.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the company posted $4.10 earnings per share. Diamondback Energy’s quarterly revenue was up 15.7% on a year-over-year basis. On average, research analysts expect that Diamondback Energy, Inc. will post 18.91 EPS for the current year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Buying and Selling

In other Diamondback Energy 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 value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a filing with the SEC, which is available at this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.94, for a total value of $969,700.00. Following the transaction, the executive vice president now directly owns 44,445 shares of the company’s stock, valued at approximately $8,619,663.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,675 shares of company stock valued at $11,311,096. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Barclays started coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. Scotiabank raised their price target on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho boosted their price objective on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Truist Financial raised 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.37.

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.