Gries Financial LLC Sells 995 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Gries Financial LLC lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,451 shares of the oil and natural gas company’s stock after selling 995 shares during the period. Gries Financial LLC’s holdings in Diamondback Energy were worth $1,511,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Demars Financial Group LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth about $638,050,000. Alyeska Investment Group L.P. bought a new stake in shares of Diamondback Energy during the fourth quarter worth about $185,193,000. Price T Rowe Associates Inc. MD boosted its holdings in Diamondback Energy by 11.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Diamondback Energy by 16,197.8% during the first quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company’s stock worth $96,827,000 after purchasing an additional 601,909 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in Diamondback Energy by 33,693.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 457,908 shares of the oil and natural gas company’s stock worth $75,019,000 after purchasing an additional 456,553 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

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 shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president owned 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This trade represents a 7.65% 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. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Down 0.2%

NASDAQ:FANG opened at $141.13 on Monday. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $205.74. The stock has a market capitalization of $41.23 billion, a P/E ratio of 8.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The company’s 50-day simple moving average is $141.68 and its 200-day simple moving average is $148.66.

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

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is 24.46%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. UBS Group cut their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Piper Sandler restated an “overweight” rating and set a $228.00 price target (up from $225.00) on shares of Diamondback Energy in a report on Thursday. Susquehanna dropped their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup upgraded shares of Diamondback Energy from a “reduce” rating to a “buy” rating and boosted their target price for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $191.55.

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.