Harrell Investment Partners LLC Has $585,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Harrell Investment Partners LLC decreased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 61.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,656 shares of the oil and natural gas company's stock after selling 5,952 shares during the period. Harrell Investment Partners LLC's holdings in Diamondback Energy were worth $585,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in FANG. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy during the 4th quarter valued at about $28,000. Grove Bank & Trust grew its holdings in 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 buying an additional 80 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at approximately $33,000. Key Financial Inc grew its holdings in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after buying an additional 188 shares during the last quarter. Finally, Transce3nd LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $148.78 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The company has a market capitalization of $43.47 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 1.39 and a beta of 1.06. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The business has a 50 day simple moving average of $138.27 and a 200 day simple moving average of $152.13.

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

Diamondback Energy Dividend Announcement

The business also recently announced 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 was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.69%. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy 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 transaction, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on FANG shares. Morgan Stanley lowered their target price on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Scotiabank lowered their target price on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Truist Financial raised their target price on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Royal Bank Of Canada started coverage on Diamondback Energy in a report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price on the stock. Finally, UBS Group lowered their target price on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of "Buy" and an average target price of $193.13.

Diamondback Energy Company 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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