Oppenheimer & Co. Inc. Sells 8,265 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Oppenheimer & Co. Inc. trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 52.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,621 shares of the oil and natural gas company's stock after selling 8,265 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Diamondback Energy were worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wintrust Investments LLC purchased a new position in Diamondback Energy in the fourth quarter valued at about $28,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $33,000. Grove Bank & Trust lifted its stake 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 valued at $32,000 after buying an additional 80 shares in the last quarter. Ancora Advisors LLC lifted its stake in shares of Diamondback Energy by 182.9% during the 4th quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company's stock valued at $38,000 after buying an additional 150 shares in the last quarter. Finally, Transce3nd LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $38,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Susquehanna dropped their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial upped their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Mizuho dropped their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Evercore ISI began coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target on the stock. Finally, Barclays decreased their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $193.13.

Insider Activity at Diamondback Energy

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 shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president now owns 120,645 shares of the company's stock, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded down $1.10 during trading on Friday, reaching $139.77. The company had a trading volume of 2,781,282 shares, compared to its average volume of 2,271,139. The company has a fifty day moving average of $139.95 and a two-hundred day moving average of $150.69. The stock has a market capitalization of $40.84 billion, a P/E ratio of 8.55 and a beta of 1.06. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. 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 (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter last year, the firm earned $4.50 EPS. The firm's quarterly revenue was up 81.8% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio is currently 24.46%.

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.