Segment Wealth Management LLC Sells 3,200 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Segment Wealth Management LLC reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,017 shares of the oil and natural gas company's stock after selling 3,200 shares during the period. Segment Wealth Management LLC's holdings in Diamondback Energy were worth $482,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth $28,000. Fourth Dimension Wealth LLC bought a new stake in Diamondback Energy in the 4th quarter valued at $33,000. Grove Bank & Trust boosted 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 purchasing an additional 80 shares during the period. Ancora Advisors LLC boosted its holdings in Diamondback Energy by 182.9% in the 4th quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company's stock valued at $38,000 after purchasing an additional 150 shares during the period. Finally, Transce3nd LLC bought a new stake in Diamondback Energy in the 4th quarter valued at $38,000. 90.01% of the stock is owned by institutional investors.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FANG has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Barclays reduced their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Mizuho reduced their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Raymond James Financial reissued a "strong-buy" rating on shares of Diamondback Energy in a report on Thursday, May 22nd. Finally, Wells Fargo & Company increased their price target on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $193.13.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $148.85 on Friday. The firm has a market cap of $43.49 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.35 and a beta of 1.06. The company has a 50 day moving average of $139.18 and a 200-day moving average of $151.76. 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, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50.

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

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's dividend payout ratio is currently 24.46%.

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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