Mizuho Securities USA LLC Decreases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Mizuho Securities USA LLC has decreased its stake in Diamondback Energy by 15.5%, now owning 14,963 shares worth approximately $2.39 million.
• Analysts show mixed sentiments towards Diamondback Energy; while Raymond James upgraded their target price to $221.00, UBS Group lowered theirs to $163.00.
• Diamondback Energy declared a quarterly dividend of $1.00 per share, representing a 2.8% yield based on an annualized rate of $4.00.

Mizuho Securities USA LLC trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,963 shares of the oil and natural gas company's stock after selling 2,748 shares during the quarter. Mizuho Securities USA LLC's holdings in Diamondback Energy were worth $2,392,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Investor s Fiduciary Advisor Network LLC boosted its position in shares of Diamondback Energy by 2.1% in the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after buying an additional 74 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in Diamondback Energy by 5.6% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock worth $226,000 after buying an additional 75 shares during the last quarter. FourThought Financial Partners LLC lifted its holdings in Diamondback Energy by 2.9% during the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock worth $444,000 after buying an additional 78 shares during the last quarter. Grove Bank & Trust raised its position in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares during the period. Finally, Rehmann Capital Advisory Group raised its position in shares of Diamondback Energy by 6.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after purchasing an additional 82 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FANG has been the topic of several analyst reports. Raymond James Financial raised their target price 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. Susquehanna reduced their price objective on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Truist Financial boosted 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. UBS Group dropped their price objective on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company boosted their price target on Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $191.59.

Diamondback Energy Price Performance

FANG stock opened at $142.03 on Monday. The firm's 50-day moving average price is $143.67 and its two-hundred day moving average price is $145.51. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $202.87. The stock has a market capitalization of $41.12 billion, a price-to-earnings ratio of 10.09 and a beta of 1.09. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. The company's revenue was up 48.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.52 EPS. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be given a $1.00 dividend. The ex-dividend date is Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.8%. Diamondback Energy's dividend payout ratio (DPR) is presently 28.43%.

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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