Securian Asset Management Inc. Has $761,000 Holdings in Diamondback Energy, Inc. $FANG

Securian Asset Management Inc. lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 43.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,064 shares of the oil and natural gas company’s stock after selling 3,879 shares during the quarter. Securian Asset Management Inc.’s holdings in Diamondback Energy were worth $761,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Flagship Harbor Advisors LLC bought a new stake in shares of Diamondback Energy in the fourth quarter worth $25,000. Richardson Financial Services Inc. grew its position in Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC bought a new position in Diamondback Energy in the fourth quarter valued at $26,000. JPL Wealth Management LLC bought a new position in Diamondback Energy in the third quarter valued at $26,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in Diamondback Energy in the 3rd quarter valued at $38,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 1.5%

Shares of FANG stock opened at $201.10 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The firm’s 50-day moving average is $190.73 and its 200-day moving average is $167.13. The stock has a market cap of $56.57 billion, a price-to-earnings ratio of 233.84 and a beta of 0.46. Diamondback Energy, Inc. has a 52-week low of $132.20 and a 52-week high of $214.51.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $4.54 earnings per share. Sell-side analysts predict that Diamondback Energy, Inc. will post 18.87 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be given a $1.10 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s payout ratio is 488.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FANG shares. The Goldman Sachs Group boosted their price target on shares of Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Freedom Capital raised Diamondback Energy to a “strong-buy” rating in a research report on Tuesday, March 10th. Piper Sandler upped their target price on Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Jefferies Financial Group reissued a “hold” rating and set a $173.00 price target on shares of Diamondback Energy in a research report on Monday, January 19th. Finally, Barclays raised their price target on Diamondback Energy from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $218.25.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $190.00, for a total transaction of $950,000.00. Following the transaction, the chief accounting officer directly owned 107,755 shares of the company’s stock, valued at approximately $20,473,450. The trade was a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matt Zmigrosky sold 20,899 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $180.00, for a total value of $3,761,820.00. Following the completion of the sale, the executive vice president owned 60,493 shares in the company, valued at approximately $10,888,740. This trade represents a 25.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 164,321 shares of company stock worth $30,054,975 in the last three months. 0.64% of the stock is owned by company insiders.

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.