King Luther Capital Management Corp Lowers Position in Diamondback Energy, Inc. $FANG

King Luther Capital Management Corp reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 165,306 shares of the oil and natural gas company’s stock after selling 2,907 shares during the quarter. King Luther Capital Management Corp’s holdings in Diamondback Energy were worth $24,850,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Scotia Capital Inc. raised its position in Diamondback Energy by 0.3% in the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after buying an additional 68 shares during the last quarter. Equitable Trust Co. raised its position in Diamondback Energy by 0.7% in the 3rd quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock valued at $1,435,000 after buying an additional 73 shares during the last quarter. Valeo Financial Advisors LLC raised its position in Diamondback Energy by 3.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,568 shares of the oil and natural gas company’s stock valued at $367,000 after buying an additional 74 shares during the last quarter. Townsend & Associates Inc raised its position in Diamondback Energy by 0.5% in the 4th quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock valued at $2,161,000 after buying an additional 75 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its position in Diamondback Energy by 2.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock valued at $410,000 after buying an additional 78 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Jere W. Thompson III sold 750 shares of Diamondback Energy stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $182.47, for a total value of $136,852.50. Following the completion of the sale, the chief financial officer owned 19,975 shares of the company’s stock, valued at approximately $3,644,838.25. This trade represents a 3.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Alvin Meloy sold 7,857 shares of Diamondback Energy stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $189.20, for a total value of $1,486,544.40. Following the completion of the sale, the director directly owned 942,721 shares of the company’s stock, valued at approximately $178,362,813.20. This trade represents a 0.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 174,321 shares of company stock worth $32,090,475 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $242.00 target price on shares of Diamondback Energy in a research report on Monday, April 27th. Wells Fargo & Company raised their target price on Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. TD Cowen raised Diamondback Energy to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $205.00 target price on shares of Diamondback Energy in a research report on Tuesday, May 5th. Five analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $223.26.

Diamondback Energy Trading Down 1.2%

Shares of Diamondback Energy stock opened at $192.84 on Thursday. Diamondback Energy, Inc. has a 1 year low of $133.75 and a 1 year high of $214.51. The firm has a market cap of $54.25 billion, a PE ratio of 224.24 and a beta of 0.46. The stock has a fifty day moving average price of $195.10 and a 200-day moving average price of $171.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the firm posted $4.54 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Diamondback Energy, Inc. will post 19.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a $1.10 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.3%. Diamondback Energy’s payout ratio is 511.63%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.