Sigma Planning Corp Sells 1,607 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Sigma Planning Corp cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 36.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,756 shares of the oil and natural gas company’s stock after selling 1,607 shares during the period. Sigma Planning Corp’s holdings in Diamondback Energy were worth $427,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. BKM Wealth Management LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth $27,000. BluePath Capital Management LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter worth $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth $34,000. CVA Family Office LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in shares of Diamondback Energy by 559.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after purchasing an additional 218 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 0.3 %

Shares of NASDAQ FANG opened at $207.76 on Friday. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $37.05 billion, a price-to-earnings ratio of 11.98 and a beta of 1.93. The business has a 50-day moving average of $193.25 and a 200-day moving average of $169.49.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm earned $5.29 earnings per share. Diamondback Energy’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy, Inc. will post 18.83 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a $3.08 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a yield of 5.93%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is currently 20.76%.

Insiders Place Their Bets

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jere W. Thompson III sold 2,675 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the sale, the vice president now directly owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock valued at $11,311,096 over the last quarter. 0.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FANG shares. Scotiabank lifted their target price on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Barclays started coverage on Diamondback Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective on the stock. BMO Capital Markets boosted their price objective on Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research note on Tuesday, February 13th. UBS Group boosted their price objective on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Susquehanna boosted their price objective on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.53.

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.