Adell Harriman & Carpenter Inc. Sells 2,038 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Adell Harriman & Carpenter Inc. cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 36.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,608 shares of the oil and natural gas company's stock after selling 2,038 shares during the period. Adell Harriman & Carpenter Inc.'s holdings in Diamondback Energy were worth $577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wintrust Investments LLC purchased a new position in Diamondback Energy in the fourth quarter valued at about $28,000. Pinnacle Bancorp Inc. boosted its position in Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after purchasing an additional 88 shares during the period. Fourth Dimension Wealth LLC bought a new stake in Diamondback Energy during the fourth quarter worth approximately $33,000. WASHINGTON TRUST Co boosted its position in Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 109 shares during the period. Finally, Grove Bank & Trust boosted its position in Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction dated Monday, May 12th. The stock was 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 $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.48% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on FANG. KeyCorp cut their price objective on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company upped their price target on Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Mizuho cut their price target on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Susquehanna cut their price target on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price target on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $193.13.

Diamondback Energy Trading Down 2.1%

Shares of NASDAQ:FANG traded down $2.98 during midday trading on Monday, hitting $137.92. The company had a trading volume of 1,717,277 shares, compared to its average volume of 2,280,749. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The stock has a market cap of $40.30 billion, a price-to-earnings ratio of 8.44 and a beta of 1.05. The firm has a fifty day simple moving average of $140.43 and a 200 day simple moving average of $149.86.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping the consensus estimate of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The firm's revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.50 EPS. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is presently 24.46%.

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.