AssuredPartners Investment Advisors LLC Reduces Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

AssuredPartners Investment Advisors LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 78.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,980 shares of the oil and natural gas company's stock after selling 18,598 shares during the period. AssuredPartners Investment Advisors LLC's holdings in Diamondback Energy were worth $796,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. grew its stake in shares of Diamondback Energy by 38.4% in the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock valued at $1,913,000 after buying an additional 3,238 shares during the period. Candriam S.C.A. grew its stake in shares of Diamondback Energy by 27.4% in the 4th quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock valued at $3,447,000 after buying an additional 4,529 shares during the period. SevenBridge Financial Group LLC grew its stake in shares of Diamondback Energy by 10.8% in the 4th quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company's stock valued at $3,303,000 after buying an additional 1,990 shares during the period. Tower Bridge Advisors grew its stake in shares of Diamondback Energy by 27.4% in the 4th quarter. Tower Bridge Advisors now owns 8,828 shares of the oil and natural gas company's stock valued at $1,446,000 after buying an additional 1,898 shares during the period. Finally, Headlands Technologies LLC grew its stake in shares of Diamondback Energy by 49.7% in the 4th quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company's stock valued at $1,608,000 after buying an additional 3,261 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

Shares of FANG opened at $139.35 on Wednesday. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The firm's fifty day simple moving average is $139.69 and its 200-day simple moving average is $151.21. The firm has a market capitalization of $40.71 billion, a price-to-earnings ratio of 8.52 and a beta of 1.06. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the business earned $4.50 EPS. The company's revenue was up 81.8% on a year-over-year basis. Equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FANG shares. Royal Bank Of Canada started coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price objective for the company. Barclays lowered their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Bank of America increased their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Scotiabank lowered their price objective on shares of 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. Finally, Piper Sandler lowered their price objective on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $193.13.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now directly owns 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 filing with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company's stock.

Diamondback Energy 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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