Diamondback Energy, Inc. (NASDAQ:FANG) Stock Position Lowered by Cerity Partners LLC

Cerity Partners LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,035 shares of the oil and natural gas company's stock after selling 5,319 shares during the quarter. Cerity Partners LLC's holdings in Diamondback Energy were worth $7,200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Investor s Fiduciary Advisor Network LLC boosted its holdings in shares of Diamondback Energy by 2.1% in the 1st 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 in the last quarter. Grove Bank & Trust increased its holdings in shares of 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 valued at $32,000 after acquiring an additional 80 shares during the period. Rehmann Capital Advisory Group increased its holdings in shares of 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 valued at $236,000 after acquiring an additional 82 shares during the period. Catalyst Capital Advisors LLC increased its holdings in shares of Diamondback Energy by 60.9% in the 1st quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company's stock valued at $35,000 after acquiring an additional 84 shares during the period. Finally, Center for Financial Planning Inc. increased its holdings in shares of Diamondback Energy by 6.4% in the 1st quarter. Center for Financial Planning Inc. now owns 1,449 shares of the oil and natural gas company's stock valued at $232,000 after acquiring an additional 87 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 2.0%

Shares of NASDAQ FANG traded up $2.76 during trading on Friday, reaching $143.69. 577,608 shares of the stock were exchanged, compared to its average volume of 2,298,838. The business's 50-day moving average price is $141.61 and its 200 day moving average price is $149.04. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $212.28. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $41.98 billion, a price-to-earnings ratio of 8.80 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly 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. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business's revenue was up 81.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.50 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.78%. Diamondback Energy's dividend payout ratio is currently 24.46%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FANG shares. Scotiabank reaffirmed an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. Susquehanna dropped their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. KeyCorp reduced their price objective on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays reduced their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $191.55.

Insider Transactions at Diamondback Energy

In related 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 in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

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.