Cetera Investment Advisers Cuts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Cetera Investment Advisers lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,952 shares of the oil and natural gas company's stock after selling 7,361 shares during the quarter. Cetera Investment Advisers' holdings in Diamondback Energy were worth $7,856,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Captrust Financial Advisors grew its holdings in shares of Diamondback Energy by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 27,887 shares of the oil and natural gas company's stock worth $4,569,000 after purchasing an additional 876 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in Diamondback Energy in the fourth quarter valued at about $55,000. Caxton Associates LP increased its holdings in Diamondback Energy by 41.2% in the fourth quarter. Caxton Associates LP now owns 83,956 shares of the oil and natural gas company's stock valued at $13,755,000 after buying an additional 24,517 shares in the last quarter. Chapman Financial Group LLC purchased a new position in Diamondback Energy in the fourth quarter valued at about $733,000. Finally, Baker Avenue Asset Management LP purchased a new position in Diamondback Energy in the fourth quarter valued at about $8,561,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Mizuho boosted their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Truist Financial lifted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Piper Sandler reduced their target price on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James cut their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $195.57.

Diamondback Energy Price Performance

NASDAQ FANG opened at $142.92 on Tuesday. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $41.76 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company has a 50-day moving average price of $141.07 and a two-hundred day moving average price of $158.80.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm's quarterly revenue was up 81.8% on a year-over-year basis. During the same period last year, the company posted $4.50 EPS. Analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Thursday, May 15th. Diamondback Energy's payout ratio is currently 24.46%.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company's stock.

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.

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