Greenwood Capital Associates LLC Sells 998 Shares of Diamondback Energy, Inc. $FANG

Greenwood Capital Associates LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 28,020 shares of the oil and natural gas company’s stock after selling 998 shares during the period. Greenwood Capital Associates LLC’s holdings in Diamondback Energy were worth $3,850,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its position in Diamondback Energy by 4.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock valued at $5,784,000 after buying an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Diamondback Energy by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock valued at $9,409,000 after purchasing an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Diamondback Energy by 50.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock valued at $1,143,000 after purchasing an additional 2,397 shares during the period. True North Advisors LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $327,000. Finally, Wealth Advisory Solutions LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $2,631,000. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the sale, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler cut their price target on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Morgan Stanley increased their price target on Diamondback Energy from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Mizuho cut their price target on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, Melius Research began coverage on Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $193.39.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $143.19 on Friday. The company has a market capitalization of $41.45 billion, a PE ratio of 10.18 and a beta of 1.04. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $142.80 and its 200 day simple moving average is $141.69.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the business earned $4.52 EPS. The business’s revenue for the quarter was up 48.1% compared to the same quarter last year. On average, research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. Diamondback Energy’s dividend payout ratio (DPR) is currently 28.43%.

Diamondback Energy Company 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.