Diversified Trust Co Sells 724 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Diversified Trust Co reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 31,624 shares of the oil and natural gas company’s stock after selling 724 shares during the quarter. Diversified Trust Co’s holdings in Diamondback Energy were worth $5,056,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FANG. Demars Financial Group LLC acquired a new position in Diamondback Energy in the 4th quarter valued at $638,050,000. Raymond James Financial Inc. bought a new position in shares of Diamondback Energy in the fourth quarter worth $298,327,000. Alyeska Investment Group L.P. bought a new position in shares of Diamondback Energy in the fourth quarter worth $185,193,000. Price T Rowe Associates Inc. MD raised its stake in Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock valued at $1,496,859,000 after purchasing an additional 928,429 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in Diamondback Energy by 30.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after purchasing an additional 658,644 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $140.87 on Friday. The firm has a market capitalization of $41.16 billion, a price-to-earnings ratio of 8.62 and a beta of 1.06. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $139.91 and its 200-day moving average price is $150.94. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter last year, the business earned $4.50 EPS. The firm’s quarterly revenue was up 81.8% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s payout ratio is currently 24.46%.

Analysts Set New Price Targets

Several research firms have commented on FANG. Piper Sandler decreased their target price on shares of Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Scotiabank decreased their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Barclays lowered their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Williams Trading set a $190.00 target price on Diamondback Energy in a report on Wednesday, March 5th. Finally, UBS Group decreased their price target on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $193.13.

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.