Diamondback Energy, Inc. $FANG Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,162 shares of the oil and natural gas company's stock after selling 8,946 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Diamondback Energy were worth $17,042,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hilltop Holdings Inc. increased its stake in Diamondback Energy by 47.8% during the 1st quarter. Hilltop Holdings Inc. now owns 3,780 shares of the oil and natural gas company's stock worth $748,000 after buying an additional 1,223 shares during the period. Compound Planning Inc. boosted its position in Diamondback Energy by 42.7% in the 1st quarter. Compound Planning Inc. now owns 2,938 shares of the oil and natural gas company's stock valued at $581,000 after buying an additional 879 shares during the last quarter. Inceptionr LLC purchased a new position in Diamondback Energy in the 1st quarter valued at about $550,000. Sei Investments Co. grew its stake in shares of Diamondback Energy by 7.5% during the first quarter. Sei Investments Co. now owns 140,846 shares of the oil and natural gas company's stock valued at $27,858,000 after acquiring an additional 9,867 shares in the last quarter. Finally, State of Wyoming grew its stake in shares of Diamondback Energy by 327.1% during the first quarter. State of Wyoming now owns 1,072 shares of the oil and natural gas company's stock valued at $212,000 after acquiring an additional 821 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Trading Down 4.3%

Diamondback Energy stock opened at $195.80 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The firm's 50-day moving average is $191.22 and its 200-day moving average is $183.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The company has a market cap of $55.08 billion, a P/E ratio of 227.68 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts' consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.54 EPS. On average, equities analysts expect that Diamondback Energy, Inc. will post 18.9 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, May 14th. This is a positive change from Diamondback Energy's previous quarterly dividend of $1.05. Diamondback Energy's payout ratio is currently 511.63%.

Insider Buying and Selling

In related news, EVP Matt Zmigrosky sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the transaction, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. The trade was a 9.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles Alvin Meloy sold 83,334 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the transaction, the director owned 851,530 shares of the company's stock, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 113,691 shares of company stock worth $21,622,752. Company insiders own 0.64% of the company's stock.

Analysts Set New Price Targets

FANG has been the topic of a number of analyst reports. Morgan Stanley cut their price target on Diamondback Energy from $229.00 to $216.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Barclays raised their price objective on Diamondback Energy from $225.00 to $232.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded Diamondback Energy from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Scotiabank upped their target price on Diamondback Energy from $175.00 to $195.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Finally, Susquehanna increased their target price on Diamondback Energy from $245.00 to $255.00 and gave the company a "positive" rating in a research note on Tuesday, July 21st. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Diamondback Energy presently has an average rating of "Buy" and an average price target of $218.68.

Diamondback Energy Company Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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