Candriam S.C.A. Sells 5,479 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Candriam S.C.A. reduced its stake in Diamondback Energy by 26.0%, now holding 15,561 shares valued at approximately $2.49 million.
• Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock for over $2.9 million, reducing his ownership by 16.65%.
• Diamondback Energy recently reported a quarterly earnings per share (EPS) of $2.67, missing estimates by $0.05, although revenue increased by 48.1% year-over-year.

Candriam S.C.A. decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 26.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,561 shares of the oil and natural gas company's stock after selling 5,479 shares during the quarter. Candriam S.C.A.'s holdings in Diamondback Energy were worth $2,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investor s Fiduciary Advisor Network LLC lifted its position in Diamondback Energy by 2.1% during the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock valued at $569,000 after buying an additional 74 shares during the period. Mesirow Financial Investment Management Inc. raised its position in shares of Diamondback Energy by 5.6% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock worth $226,000 after purchasing an additional 75 shares during the last quarter. FourThought Financial Partners LLC raised its position in shares of Diamondback Energy by 2.9% in the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock worth $444,000 after purchasing an additional 78 shares during the last quarter. Grove Bank & Trust increased its holdings in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after buying an additional 80 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its holdings in Diamondback Energy by 6.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Buying and Selling

In other news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Trading Up 1.4%

Diamondback Energy stock traded up $1.99 during mid-day trading on Monday, hitting $145.27. The company's stock had a trading volume of 1,623,044 shares, compared to its average volume of 2,122,723. The company has a 50 day moving average of $142.67 and a 200-day moving average of $143.45. The stock has a market cap of $42.05 billion, a PE ratio of 10.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business's revenue was up 48.1% compared to the same quarter last year. During the same period last year, the company earned $4.52 EPS. On average, research analysts anticipate 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, August 21st. Shareholders of record on Thursday, August 14th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy's dividend payout ratio is 28.43%.

Analyst Ratings Changes

Several research firms recently commented on FANG. Melius started coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective for the company. Morgan Stanley boosted their price target on Diamondback Energy from $184.00 to $186.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Piper Sandler cut their price objective on Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. Finally, Wells Fargo & Company boosted their price target on Diamondback Energy from $210.00 to $211.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $193.33.

About Diamondback Energy

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.