STF Management LP Trims Stock Position in Diamondback Energy, Inc. $FANG

STF Management LP cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 62.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,640 shares of the oil and natural gas company’s stock after selling 2,713 shares during the quarter. STF Management LP’s holdings in Diamondback Energy were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. increased its stake in Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in Diamondback Energy during the fourth quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the third quarter worth about $26,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Diamondback Energy in the third quarter valued at about $38,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $203.56 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $132.20 and a fifty-two week high of $214.51. The business has a 50 day moving average price of $191.72 and a two-hundred day moving average price of $167.76. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The firm has a market cap of $57.26 billion, a PE ratio of 236.70 and a beta of 0.46.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the firm earned $4.54 EPS. Diamondback Energy’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy, Inc. will post 18.93 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th will be paid a dividend of $1.10 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s payout ratio is 511.63%.

Insider Activity

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the transaction, the executive vice president owned 51,392 shares of the company’s stock, valued at $10,283,539.20. This trade represents a 8.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Teresa L. Dick sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $190.00, for a total value of $950,000.00. Following the transaction, the chief accounting officer directly owned 107,755 shares in the company, valued at approximately $20,473,450. This represents a 4.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 169,321 shares of company stock worth $31,055,475 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial set a $242.00 target price on Diamondback Energy in a research note on Wednesday, May 6th. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group increased their target price on Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Raymond James Financial reiterated a “strong-buy” rating and issued a $242.00 target price on shares of Diamondback Energy in a research note on Monday, April 27th. Finally, Zacks Research upgraded Diamondback Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $218.25.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.