Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 36.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,608 shares of the oil and natural gas company's stock after selling 2,038 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in Diamondback Energy were worth $577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FANG. Demars Financial Group LLC acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $638,050,000. Raymond James Financial Inc. acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $298,327,000. Alyeska Investment Group L.P. acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $185,193,000. Price T Rowe Associates Inc. MD boosted its position in shares of Diamondback Energy by 11.3% during the 4th 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 acquiring an additional 928,429 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Diamondback Energy by 30.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after acquiring an additional 658,644 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on FANG shares. UBS Group lowered their price objective on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Scotiabank decreased their target price on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Mizuho decreased their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Finally, KeyCorp reduced their price objective on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $193.13.

Diamondback Energy Price Performance

Shares of FANG traded down $1.22 on Friday, reaching $140.75. The stock had a trading volume of 1,199,623 shares, compared to its average volume of 2,283,012. The firm has a market capitalization of $41.12 billion, a PE ratio of 8.76 and a beta of 1.05. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $140.42 and a 200 day moving average of $150.04. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

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

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the sale, the president owned 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.