Legal & General Group Plc decreased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,024,615 shares of the oil and natural gas company's stock after selling 75,263 shares during the period. Legal & General Group Plc owned approximately 0.36% of Diamondback Energy worth $154,030,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth $25,000. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth $26,000. Richardson Financial Services Inc. increased its position in shares of Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock worth $26,000 after acquiring an additional 125 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Diamondback Energy during the third quarter worth $26,000. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of Diamondback Energy during the fourth quarter worth $31,000. Institutional investors own 90.01% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on FANG. Piper Sandler raised their target price on shares of Diamondback Energy from $215.00 to $248.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. Wells Fargo & Company raised their target price on shares of Diamondback Energy from $202.00 to $262.00 and gave the company an "overweight" rating in a research report on Monday, April 20th. Truist Financial set a $242.00 target price on shares of Diamondback Energy in a research report on Wednesday, May 6th. Benchmark downgraded shares of Diamondback Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 5th. Finally, Sanford C. Bernstein raised their target price on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $223.26.
Get Our Latest Stock Analysis on Diamondback Energy
Diamondback Energy Stock Down 1.2%
Diamondback Energy stock opened at $192.84 on Thursday. The company has a market cap of $54.25 billion, a P/E ratio of 224.24 and a beta of 0.46. Diamondback Energy, Inc. has a 1-year low of $133.75 and a 1-year high of $214.51. The company has a fifty day simple moving average of $195.10 and a 200 day simple moving average of $171.30. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts' consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.54 earnings per share. Research analysts anticipate that Diamondback Energy, Inc. will post 19.49 earnings per share for the current fiscal year.
Diamondback Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $1.10 dividend. This is an increase from Diamondback Energy's previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, May 14th. Diamondback Energy's dividend payout ratio is 511.63%.
Insider Transactions at Diamondback Energy
In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $200.10, for a total value of $1,000,500.00. Following the completion of the sale, the executive vice president owned 51,392 shares in the company, valued at $10,283,539.20. This trade represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jere W. Thompson III sold 750 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $182.47, for a total transaction of $136,852.50. Following the completion of the sale, the chief financial officer owned 19,975 shares of the company's stock, valued at approximately $3,644,838.25. This represents a 3.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 174,321 shares of company stock valued at $32,090,475. 0.64% of the stock is owned by company insiders.
About Diamondback Energy
(
Free Report)
Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.
Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.
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