Diamondback Energy, Inc. (NASDAQ:FANG) Position Reduced by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 46.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,590 shares of the oil and natural gas company's stock after selling 82,724 shares during the quarter. Stephens Investment Management Group LLC's holdings in Diamondback Energy were worth $14,963,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $210,000. Independent Advisor Alliance boosted its position in Diamondback Energy by 14.7% in the 4th quarter. Independent Advisor Alliance now owns 2,817 shares of the oil and natural gas company's stock valued at $461,000 after buying an additional 362 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Diamondback Energy by 17.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,374 shares of the oil and natural gas company's stock worth $1,208,000 after purchasing an additional 1,108 shares during the last quarter. Diversified Enterprises LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter worth $268,000. Finally, Greenwich Wealth Management LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter worth $218,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on FANG shares. UBS Group cut their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. KeyCorp dropped their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Barclays decreased their price objective 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. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Diamondback Energy in a report on Thursday, May 22nd. Finally, Piper Sandler upped their price target on shares of Diamondback Energy from $225.00 to $228.00 and gave the company an "overweight" rating in a report on Thursday. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $193.48.

Diamondback Energy Trading Up 2.7%

Shares of Diamondback Energy stock traded up $3.72 during trading hours on Thursday, hitting $140.19. The company's stock had a trading volume of 446,771 shares, compared to its average volume of 2,297,136. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The business has a fifty day moving average of $141.52 and a 200 day moving average of $149.18. The company has a market capitalization of $40.96 billion, a PE ratio of 8.58 and a beta of 1.05. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.87. The company 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%. The business's quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.50 earnings per share. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.85%. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insider Buying and Selling at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the company'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 completion of the transaction, the president directly owned 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

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.