Diamondback Energy, Inc. (NASDAQ:FANG) Stock Position Reduced by Redwood Investments LLC

Redwood Investments LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,958 shares of the oil and natural gas company’s stock after selling 228 shares during the quarter. Diamondback Energy makes up approximately 0.9% of Redwood Investments LLC’s holdings, making the stock its 28th largest position. Redwood Investments LLC’s holdings in Diamondback Energy were worth $3,434,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at about $28,000. R Squared Ltd acquired a new stake in Diamondback Energy during the fourth quarter worth about $29,000. UMB Bank n.a. lifted its holdings in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Key Financial Inc boosted its stake in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the period. Finally, Transce3nd LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FANG. Scotiabank reduced their price objective on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Citigroup upgraded shares of Diamondback Energy from a “reduce” rating to a “buy” rating and upped their price target for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Mizuho cut their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Susquehanna reduced their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $194.09.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $144.82 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $141.29 and its 200 day moving average price is $158.61. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The firm has a market cap of $42.31 billion, a P/E ratio of 8.29, a PEG ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the previous year, the company posted $4.50 EPS. The business’s revenue was up 81.8% compared to the same quarter last year. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a $1.00 dividend. The ex-dividend date is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.76%. Diamondback Energy’s dividend payout ratio (DPR) is 24.46%.

Diamondback Energy 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.