Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Gradient Investments LLC

Gradient Investments LLC reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,508 shares of the oil and natural gas company’s stock after selling 209 shares during the period. Gradient Investments LLC’s holdings in Diamondback Energy were worth $575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in Diamondback Energy by 2.8% during the second quarter. Thrivent Financial for Lutherans now owns 26,441 shares of the oil and natural gas company’s stock worth $5,294,000 after buying an additional 728 shares during the period. AXA S.A. raised its holdings in shares of Diamondback Energy by 35.4% in the 2nd quarter. AXA S.A. now owns 25,167 shares of the oil and natural gas company’s stock worth $5,038,000 after purchasing an additional 6,575 shares during the period. MBB Public Markets I LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at about $2,493,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Diamondback Energy during the 2nd quarter worth about $213,000. Finally, Oliver Lagore Vanvalin Investment Group increased its position in Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI decreased their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday. Scotiabank decreased their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.00.

Diamondback Energy Trading Down 1.9 %

Shares of NASDAQ:FANG opened at $173.26 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market cap of $50.59 billion, a PE ratio of 9.92, a P/E/G ratio of 1.44 and a beta of 1.88. The company’s 50-day moving average price is $170.28 and its 200 day moving average price is $182.26.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $5.49 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.58 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Diamondback Energy Profile

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.