Second Half Financial Partners LLC Reduces Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Second Half Financial Partners LLC lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.1% during the first quarter, HoldingsChannel.com reports. The fund owned 3,145 shares of the oil and natural gas company’s stock after selling 392 shares during the quarter. Second Half Financial Partners LLC’s holdings in Diamondback Energy were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FANG. Demars Financial Group LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $638,050,000. Alyeska Investment Group L.P. purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $185,193,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 worth $1,496,859,000 after buying an additional 928,429 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Diamondback Energy by 16,197.8% in 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 buying an additional 601,909 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of Diamondback Energy by 5,748.3% in the fourth quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company’s stock worth $73,498,000 after buying an additional 440,953 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 0.5%

Shares of FANG opened at $144.61 on Friday. The company’s fifty day moving average is $141.65 and its 200 day moving average is $147.84. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $203.98. The stock has a market capitalization of $42.25 billion, a PE ratio of 8.84 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.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. 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 business posted $4.50 earnings per share. Diamondback Energy’s quarterly revenue was up 81.8% on a year-over-year basis. Sell-side analysts expect 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 was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.77%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio is presently 24.46%.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, June 16th. Piper Sandler raised their price objective on shares of Diamondback Energy from $225.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Citigroup raised shares of Diamondback Energy from a “reduce” rating to a “buy” rating and raised their price objective for the stock from $157.00 to $180.00 in a report on Monday, April 7th. UBS Group dropped their price objective 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. Finally, Mizuho dropped their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $191.59.

Insiders Place Their Bets

In other Diamondback Energy 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 transaction of $1,426,900.00. Following the completion of the transaction, the president directly owned 120,645 shares of the company’s stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

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.