Strategic Wealth Partners Ltd. Sells 15,620 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Strategic Wealth Partners Ltd. lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 73.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,642 shares of the oil and natural gas company's stock after selling 15,620 shares during the quarter. Strategic Wealth Partners Ltd.'s holdings in Diamondback Energy were worth $881,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Diamondback Energy by 11.3% in the 4th 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 in the last quarter. Boston Partners grew its holdings in Diamondback Energy by 12.4% in 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 period. Geode Capital Management LLC increased its stake in Diamondback Energy by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after purchasing an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after purchasing an additional 502,916 shares in the last quarter. Finally, Demars Financial Group LLC acquired a new position in shares of Diamondback Energy during the fourth quarter valued at about $638,050,000. Institutional investors own 90.01% of the company's stock.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru purchased 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Hof Matthew Kaes Van't sold 10,000 shares of the company'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 transaction, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on FANG. Truist Financial raised their target price on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Barclays cut their price target on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price objective for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Royal Bank of Canada assumed coverage on Diamondback Energy in a research report on Friday, May 2nd. They set an "outperform" rating and a $180.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Two 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. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $194.09.

Diamondback Energy Stock Performance

Shares of FANG traded down $0.02 on Thursday, reaching $136.29. 1,928,929 shares of the company's stock traded hands, compared to its average volume of 2,142,146. The stock's 50 day simple moving average is $140.68 and its two-hundred day simple moving average is $157.33. The stock has a market cap of $39.82 billion, a PE ratio of 7.80, a PEG ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.87. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business's revenue was up 81.8% compared to the same quarter last year. During the same period last year, the firm posted $4.50 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, May 15th. Diamondback Energy's dividend payout ratio is 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.