Foster & Motley Inc. Lowers Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Foster & Motley Inc. has reduced its holdings in Diamondback Energy by 27.8%, leaving them with 5,228 shares valued at approximately $836,000 as of the latest SEC filing.
• Diamondback Energy announced a quarterly dividend of $1.00 per share, indicating a strong annualized yield of 2.7% and a low dividend payout ratio of 24.46%.
• The company's recent earnings report showed an EPS of $4.54, which surpassed analysts' expectations and represents a significant revenue increase of 81.8% year-over-year.

Foster & Motley Inc. trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 27.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,228 shares of the oil and natural gas company's stock after selling 2,011 shares during the period. Foster & Motley Inc.'s holdings in Diamondback Energy were worth $836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. increased its holdings in shares of Diamondback Energy by 4.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock valued at $5,784,000 after purchasing an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Diamondback Energy by 6.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock worth $9,409,000 after buying an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Diamondback Energy by 50.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock valued at $1,143,000 after buying an additional 2,397 shares during the period. Wealth Advisory Solutions LLC purchased a new position in Diamondback Energy in the first quarter valued at $2,631,000. Finally, Requisite Capital Management LLC raised its position in shares of Diamondback Energy by 501.7% in the first quarter. Requisite Capital Management LLC now owns 59,281 shares of the oil and natural gas company's stock worth $9,478,000 after acquiring an additional 49,428 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 1.5%

NASDAQ FANG opened at $148.66 on Friday. The business's fifty day simple moving average is $142.69 and its 200-day simple moving average is $147.37. 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 firm has a market cap of $43.43 billion, a PE ratio of 9.09 and a beta of 1.05. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $203.98.

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

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy's dividend payout ratio is currently 24.46%.

Analyst Ratings Changes

A number of research firms have recently commented on FANG. Susquehanna dropped their target price on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Truist Financial increased their price target on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Raymond James Financial boosted their price objective on Diamondback Energy from $204.00 to $221.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. Evercore ISI started coverage on Diamondback Energy in a research note on Tuesday, May 6th. They set an "outperform" rating and a $165.00 target price for the company. Finally, UBS Group decreased their target price on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $191.59.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction on 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 completion of the sale, the president owned 120,645 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.70% of the company's stock.

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.

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