Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Sippican Capital Advisors

Sippican Capital Advisors reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,296 shares of the oil and natural gas company’s stock after selling 504 shares during the period. Diamondback Energy makes up approximately 1.3% of Sippican Capital Advisors’ portfolio, making the stock its 26th biggest holding. Sippican Capital Advisors’ holdings in Diamondback Energy were worth $1,851,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FANG. Assenagon Asset Management S.A. grew its holdings in Diamondback Energy by 1,153.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after acquiring an additional 1,042,505 shares during the period. Zimmer Partners LP acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $87,924,000. Holocene Advisors LP lifted its stake in shares of Diamondback Energy by 95.3% in the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after purchasing an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after buying an additional 439,579 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Diamondback Energy by 17,151.2% during the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock worth $58,620,000 after buying an additional 338,050 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $170.86 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $169.86 and a 200 day moving average price of $181.48. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The stock has a market cap of $49.89 billion, a P/E ratio of 9.78, a PEG ratio of 1.44 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $5.49 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. 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. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.11%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Benchmark reaffirmed a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. Truist Financial increased their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $215.00.

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.