Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Ethic Inc.

Ethic Inc. lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 55.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,873 shares of the oil and natural gas company’s stock after selling 7,419 shares during the period. Ethic Inc.’s holdings in Diamondback Energy were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $29,000. UMB Bank n.a. boosted its position in shares of 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 purchasing an additional 136 shares during the period. Key Financial Inc boosted its position in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares during the period. Finally, Transce3nd LLC purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $146.17 on Wednesday. The company’s fifty day moving average price is $141.19 and its 200 day moving average price is $158.71. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $42.71 billion, a P/E ratio of 8.37, a P/E/G ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the business earned $4.50 EPS. Diamondback Energy’s revenue for the quarter was up 81.8% compared to the same quarter last year. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.74%. Diamondback Energy’s dividend payout ratio is currently 24.46%.

Analyst Ratings Changes

FANG has been the subject of a number of research analyst reports. Royal Bank of Canada started coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They set an “outperform” rating and a $180.00 price objective for the company. Evercore ISI started coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They issued an “outperform” rating and a $165.00 price target for the company. Citigroup raised shares of Diamondback Energy from a “reduce” rating to a “buy” rating and raised their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Barclays decreased their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial raised their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $194.09.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

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.