Bessemer Group Inc. Sells 852,382 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Bessemer Group Inc. trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 99.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,805 shares of the oil and natural gas company's stock after selling 852,382 shares during the quarter. Bessemer Group Inc.'s holdings in Diamondback Energy were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. raised its holdings in 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 acquiring an additional 3,238 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Diamondback Energy by 6.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock valued at $9,409,000 after purchasing an additional 3,467 shares in the last quarter. Candriam S.C.A. lifted its position in Diamondback Energy by 27.4% in the fourth quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock worth $3,447,000 after purchasing an additional 4,529 shares during the period. SevenBridge Financial Group LLC lifted its position in Diamondback Energy by 10.8% in the fourth quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company's stock worth $3,303,000 after purchasing an additional 1,990 shares during the period. Finally, Headlands Technologies LLC boosted its stake in Diamondback Energy by 49.7% during the fourth quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company's stock worth $1,608,000 after buying an additional 3,261 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insiders Place Their Bets

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's 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 completion of the transaction, the president owned 120,645 shares of the company's stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company's stock.

Diamondback Energy Trading Up 1.3%

Shares of Diamondback Energy stock traded up $1.77 on Wednesday, hitting $141.97. 1,852,356 shares of the company's stock traded hands, compared to its average volume of 2,275,092. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The firm's 50-day moving average price is $140.13 and its two-hundred day moving average price is $150.35. The stock has a market capitalization of $41.48 billion, a PE ratio of 8.68 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. The firm 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 last year, the business earned $4.50 earnings per share. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is presently 24.46%.

Analysts Set New Price Targets

A number of analysts have weighed in on FANG shares. Piper Sandler lowered their price target on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley lowered their target price on shares of Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Barclays cut their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Susquehanna decreased their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Bank of America raised their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of "Buy" and a consensus target price of $193.13.

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.