Schechter Investment Advisors LLC Has $347,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Schechter Investment Advisors LLC decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 50.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,172 shares of the oil and natural gas company's stock after selling 2,197 shares during the quarter. Schechter Investment Advisors LLC's holdings in Diamondback Energy were worth $347,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in Diamondback Energy by 11.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Boston Partners boosted its holdings in Diamondback Energy by 12.4% during the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after purchasing an additional 571,820 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Diamondback Energy by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after purchasing an additional 91,605 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Diamondback Energy by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock worth $680,649,000 after purchasing an additional 94,177 shares during the last quarter. Finally, Demars Financial Group LLC boosted its holdings in Diamondback Energy by 5.3% during the first quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock worth $655,953,000 after purchasing an additional 208,200 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $137.88 on Wednesday. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The firm has a market cap of $40.28 billion, a price-to-earnings ratio of 8.43 and a beta of 1.05. The firm's 50-day simple moving average is $141.38 and its 200 day simple moving average is $149.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly 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. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the firm earned $4.50 earnings per share. Diamondback Energy's revenue for the quarter was up 81.8% compared to the same quarter last year. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio is currently 24.46%.

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 dated 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 transaction, the president directly owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FANG shares. Evercore ISI assumed coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 target price for the company. Royal Bank Of Canada assumed coverage on shares of Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target for the company. KeyCorp cut their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Bank of America increased their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Mizuho cut their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $193.35.

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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