Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Schear Investment Advisers LLC

Schear Investment Advisers LLC trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 54.6% in the fourth quarter, HoldingsChannel reports. The firm owned 7,118 shares of the oil and natural gas company’s stock after selling 8,569 shares during the period. Schear Investment Advisers LLC’s holdings in Diamondback Energy were worth $1,166,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Diamondback Energy during the fourth quarter worth approximately $29,000. UMB Bank n.a. boosted its position in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the period. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the third quarter worth $42,000. Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy during the third quarter valued at $52,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at about $67,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.2 %

FANG stock opened at $162.01 on Wednesday. The company has a 50 day moving average of $167.26 and a two-hundred day moving average of $178.89. The company has a market cap of $47.31 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 12-month low of $152.00 and a 12-month 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.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.22%. Diamondback Energy’s payout ratio is 20.61%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FANG shares. Susquehanna reduced their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Truist Financial upped their target price on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Raymond James lifted their price target on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, KeyCorp lowered their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus 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.