Steward Partners Investment Advisory LLC Sells 8,462 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Steward Partners Investment Advisory LLC sold 8,462 shares of Diamondback Energy, reducing its stake by 10.7% to 70,414 shares, valued at approximately $11.26 million.
• Insider Chairman Travis D. Stice sold 20,400 shares at $142.80 each, decreasing his ownership by 16.65% to 102,145 shares.
• Diamondback Energy announced a quarterly dividend of $1.00 per share, representing an annualized payout of $4.00 and a yield of 2.9%.

Steward Partners Investment Advisory LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,414 shares of the oil and natural gas company's stock after selling 8,462 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Diamondback Energy were worth $11,258,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of FANG. Nuveen LLC bought a new stake in Diamondback Energy during the first quarter valued at $230,039,000. Alyeska Investment Group L.P. bought a new stake in Diamondback Energy during the fourth quarter valued at $185,193,000. Price T Rowe Associates Inc. MD boosted its position 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 valued at $1,496,859,000 after acquiring an additional 928,429 shares during the last quarter. GAMMA Investing LLC boosted its position in Diamondback Energy by 16,197.8% during the first quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock valued at $96,827,000 after acquiring an additional 601,909 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Diamondback Energy by 5,748.3% during the fourth quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company's stock valued at $73,498,000 after acquiring an additional 440,953 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the sale, the chairman directly owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FANG. Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, July 15th. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. JPMorgan Chase & Co. dropped their price objective on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Piper Sandler reiterated an "overweight" rating and set a $222.00 price objective (down previously from $228.00) on shares of Diamondback Energy in a report on Thursday. Finally, Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $191.45.

Diamondback Energy Trading Down 0.4%

Shares of FANG stock opened at $140.22 on Monday. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The company has a 50-day simple moving average of $143.65 and a two-hundred day simple moving average of $144.39. The company has a market capitalization of $40.59 billion, a price-to-earnings ratio of 9.97 and a beta of 1.09.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the company posted $4.52 earnings per share. The company's revenue for the quarter was up 48.1% on a year-over-year basis. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

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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