Cwm LLC Lowers Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Cwm LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,225 shares of the oil and natural gas company's stock after selling 5,779 shares during the quarter. Cwm LLC's holdings in Diamondback Energy were worth $1,315,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FANG. Proficio Capital Partners LLC bought a new stake in shares of Diamondback Energy in the 4th quarter valued at about $210,000. Axxcess Wealth Management LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at approximately $278,000. Teacher Retirement System of Texas boosted its stake in Diamondback Energy by 807.4% in the fourth quarter. Teacher Retirement System of Texas now owns 11,224 shares of the oil and natural gas company's stock valued at $1,839,000 after acquiring an additional 9,987 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $78,000. Finally, Summit Global Investments grew its holdings in Diamondback Energy by 325.7% in the fourth quarter. Summit Global Investments now owns 4,998 shares of the oil and natural gas company's stock worth $819,000 after purchasing an additional 3,824 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating and issued a $228.00 price objective (up previously from $225.00) on shares of Diamondback Energy in a research report on Thursday. Bank of America raised their price target on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Barclays dropped their price target on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. KeyCorp decreased their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Mizuho dropped their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $191.55.

Diamondback Energy Trading Up 0.3%

Shares of NASDAQ:FANG opened at $141.37 on Monday. 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, Inc. has a 12-month low of $114.00 and a 12-month high of $205.74. The business has a 50 day moving average of $141.68 and a two-hundred day moving average of $148.66. The company has a market capitalization of $41.30 billion, a PE ratio of 8.65 and a beta of 1.05.

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

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

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.

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