Diamondback Energy, Inc. (NASDAQ:FANG) Stock Position Reduced by Schear Investment Advisers LLC

Schear Investment Advisers LLC lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 42.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,117 shares of the oil and natural gas company's stock after selling 3,001 shares during the period. Schear Investment Advisers LLC's holdings in Diamondback Energy were worth $658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FANG. Demars Financial Group LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $638,050,000. Alyeska Investment Group L.P. acquired a new stake in Diamondback Energy in the 4th quarter valued at approximately $185,193,000. Price T Rowe Associates Inc. MD increased its position in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after acquiring an additional 928,429 shares during the period. GAMMA Investing LLC increased its position in Diamondback Energy by 16,197.8% in the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock valued at $96,827,000 after acquiring an additional 601,909 shares during the period. Finally, Boston Partners increased its position in Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after acquiring an additional 571,820 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $144.33 on Friday. 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 1 year low of $114.00 and a 1 year high of $214.50. The business has a fifty day simple moving average of $141.09 and a 200 day simple moving average of $149.52. The firm has a market cap of $42.17 billion, a price-to-earnings ratio of 8.83 and a beta of 1.05.

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

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.77%. Diamondback Energy's dividend payout ratio (DPR) is currently 24.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FANG shares. Piper Sandler decreased their price target 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. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price objective for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Susquehanna reduced their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley reduced their price objective on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada assumed coverage on Diamondback Energy in a research note on Friday, May 2nd. They set an "outperform" rating and a $180.00 price objective for the company. Two equities research 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $193.35.

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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