Secure Asset Management LLC Decreases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Secure Asset Management LLC lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 83.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,904 shares of the oil and natural gas company's stock after selling 9,281 shares during the period. Secure Asset Management LLC's holdings in Diamondback Energy were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Barden Capital Management Inc. boosted its stake in shares of Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after purchasing an additional 64 shares in the last quarter. Buckhead Capital Management LLC boosted its position in Diamondback Energy by 0.3% in the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock valued at $3,249,000 after buying an additional 67 shares in the last quarter. Private Trust Co. NA boosted its position in Diamondback Energy by 4.8% in the fourth quarter. Private Trust Co. NA now owns 1,516 shares of the oil and natural gas company's stock valued at $248,000 after buying an additional 69 shares in the last quarter. Gladstone Institutional Advisory LLC grew its stake in shares of Diamondback Energy by 1.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,923 shares of the oil and natural gas company's stock worth $643,000 after buying an additional 74 shares during the last quarter. Finally, JBR Co Financial Management Inc increased its holdings in shares of Diamondback Energy by 4.1% during the fourth quarter. JBR Co Financial Management Inc now owns 2,023 shares of the oil and natural gas company's stock worth $331,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Analysts Set New Price Targets

FANG has been the topic of a number of research reports. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Piper Sandler lowered their price objective on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. KeyCorp dropped their price objective on shares of 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 target price on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Scotiabank decreased their price target on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $193.09.

Diamondback Energy Stock Up 2.3%

Diamondback Energy stock traded up $3.11 during mid-day trading on Friday, reaching $140.56. The stock had a trading volume of 1,776,135 shares, compared to its average volume of 2,171,767. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The stock's 50-day simple moving average is $135.98 and its 200-day simple moving average is $154.07. The firm has a market capitalization of $41.07 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

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. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the firm posted $4.50 EPS. Diamondback Energy's revenue was up 81.8% compared to the same quarter last year. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal 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 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's payout ratio is presently 24.46%.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction 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 completion of the sale, the president now directly owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company 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.