Schear Investment Advisers LLC Has $3.03 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Schear Investment Advisers LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,509 shares of the oil and natural gas company’s stock after selling 163 shares during the quarter. Diamondback Energy accounts for about 2.9% of Schear Investment Advisers LLC’s holdings, making the stock its 9th biggest holding. Schear Investment Advisers LLC’s holdings in Diamondback Energy were worth $3,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA increased its holdings in Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after purchasing an additional 858,446 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $128,720,000. Wellington Management Group LLP boosted its position in shares of 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 in the last quarter. Raymond James & Associates boosted its position in shares of Diamondback Energy by 143.0% during 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 purchasing an additional 577,514 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Diamondback Energy during the 1st quarter valued at about $73,608,000. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares in the company, valued at $15,031,153.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock valued at $11,311,096 over the last 90 days. Insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. BMO Capital Markets increased their price target on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a report on Tuesday, February 13th. Stifel Nicolaus raised their target price on Diamondback Energy from $192.00 to $224.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Piper Sandler increased their price target on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday. KeyCorp increased their price target 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, Evercore ISI increased their price target on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, five have given 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $196.95.

Diamondback Energy Price Performance

NASDAQ:FANG traded up $1.50 during trading hours on Friday, hitting $201.10. 810,939 shares of the company’s stock traded hands, compared to its average volume of 1,746,890. The firm has a market cap of $35.86 billion, a P/E ratio of 11.65 and a beta of 1.93. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The business’s fifty day simple moving average is $188.92 and its two-hundred day simple moving average is $167.21. 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 (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company earned $5.29 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts anticipate that Diamondback Energy, Inc. will post 18.53 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders 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 6.13%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s payout ratio is 20.76%.

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.