Segment Wealth Management LLC Sells 65,700 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Segment Wealth Management LLC lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 91.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,217 shares of the oil and natural gas company’s stock after selling 65,700 shares during the quarter. Segment Wealth Management LLC’s holdings in Diamondback Energy were worth $1,019,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in Diamondback Energy by 1.3% in the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after acquiring an additional 149,871 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after buying an additional 439,579 shares during the period. Finally, Raymond James & Associates lifted its holdings in Diamondback Energy by 4.2% during the 3rd quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock valued at $195,714,000 after buying an additional 46,109 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FANG. Benchmark reaffirmed a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Wednesday, November 6th. KeyCorp lowered their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $214.17.

Diamondback Energy Trading Up 0.6 %

Shares of Diamondback Energy stock opened at $180.18 on Tuesday. The firm’s 50 day simple moving average is $170.60 and its two-hundred day simple moving average is $182.92. The firm has a market capitalization of $52.61 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.48 and a beta of 1.88. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $5.49 earnings per share. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. Analysts predict that Diamondback Energy, Inc. will post 15.57 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by insiders.

Diamondback Energy Company 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.