Diamondback Energy, Inc. $FANG Shares Sold by Sei Investments Co.

Key Points

• Sei Investments Co. reduced its stake in Diamondback Energy, Inc. by 1.6%, now holding 112,716 shares valued at approximately $18.4 million.
• Diamondback Energy's Chairman, Travis D. Stice, sold 20,400 shares at $142.80 each, decreasing his ownership by 16.65%.
• The company declared a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 2.8%.

Sei Investments Co. cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 112,716 shares of the oil and natural gas company's stock after selling 1,796 shares during the quarter. Sei Investments Co.'s holdings in Diamondback Energy were worth $18,418,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. BankPlus Trust Department purchased a new position in shares of Diamondback Energy during the 1st quarter valued at approximately $27,000. Pinnacle Bancorp Inc. increased its holdings in Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after acquiring an additional 88 shares in the last quarter. SouthState Corp increased its holdings in Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after acquiring an additional 167 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Diamondback Energy in the 4th quarter worth $33,000. Finally, WASHINGTON TRUST Co increased its holdings in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 109 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 0.4%

Diamondback Energy stock traded down $0.55 during mid-day trading on Friday, hitting $140.22. The company had a trading volume of 1,889,655 shares, compared to its average volume of 2,067,470. The stock has a market cap of $40.59 billion, a price-to-earnings ratio of 9.97 and a beta of 1.09. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $143.65 and a 200 day moving average of $144.39.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business's revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.52 earnings per share. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, August 14th. Diamondback Energy's dividend payout ratio is currently 28.43%.

Analyst Ratings Changes

Several brokerages recently commented on FANG. Susquehanna cut their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Scotiabank reaffirmed an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. Wells Fargo & Company upped their target price on shares of Diamondback Energy from $210.00 to $211.00 and gave the stock an "overweight" rating in a report on Thursday. Bank of America upped their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Mizuho lowered 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 report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has a consensus rating of "Moderate Buy" and an average target price of $191.45.

Insider Buying and Selling

In other news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is owned by corporate insiders.

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.