Mutual of America Capital Management LLC Has $3.72 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Mutual of America Capital Management LLC trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,953 shares of the oil and natural gas company’s stock after selling 1,076 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Diamondback Energy were worth $3,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Diamondback Energy by 3.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock valued at $278,000 after acquiring an additional 64 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock valued at $566,000 after acquiring an additional 64 shares during the period. Veracity Capital LLC lifted its holdings in shares of Diamondback Energy by 3.5% during the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after acquiring an additional 70 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Diamondback Energy by 2.5% during the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after acquiring an additional 75 shares during the period. Finally, Moody National Bank Trust Division lifted its holdings in shares of Diamondback Energy by 0.8% during the third quarter. Moody National Bank Trust Division now owns 9,231 shares of the oil and natural gas company’s stock valued at $1,430,000 after acquiring an additional 76 shares during the period. 90.01% of the stock is owned by institutional investors.

Insider Transactions at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

Shares of FANG stock opened at $203.95 on Wednesday. The stock has a 50-day moving average price of $187.00 and a 200 day moving average price of $166.74. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The firm has a market cap of $36.37 billion, a price-to-earnings ratio of 11.76 and a beta of 1.93. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.13. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.29 EPS. Research analysts expect that Diamondback Energy, Inc. will post 18.47 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a dividend yield of 6.04%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is presently 20.76%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FANG shares. Susquehanna lifted their price objective on Diamondback Energy from $190.00 to $195.00 and gave the company a “positive” rating in a report on Tuesday, February 13th. Piper Sandler lifted their price objective on Diamondback Energy from $222.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. BMO Capital Markets lifted their price objective on Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a report on Tuesday, February 13th. Bank Of America (Bofa) lowered their target price on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research note on Thursday, January 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $195.00 target price on shares of Diamondback Energy in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $195.95.

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.