Tidal Investments LLC Has $1.65 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Tidal Investments LLC lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 33.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,075 shares of the oil and natural gas company's stock after selling 5,073 shares during the period. Tidal Investments LLC's holdings in Diamondback Energy were worth $1,651,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wintrust Investments LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in shares of Diamondback Energy during the 4th quarter valued at about $29,000. UMB Bank n.a. boosted its holdings in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc boosted its holdings in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after purchasing an additional 188 shares during the last quarter. Finally, Ancora Advisors LLC boosted its holdings in shares of Diamondback Energy by 182.9% during 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 last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Up 0.7%

FANG stock traded up $0.94 during mid-day trading on Thursday, hitting $137.22. 665,682 shares of the company were exchanged, compared to its average volume of 2,148,653. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market cap of $40.09 billion, a P/E ratio of 7.86, a P/E/G ratio of 1.24 and a beta of 1.06. The firm's 50 day simple moving average is $138.66 and its 200 day simple moving average is $155.81. 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, topping the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business's quarterly revenue was up 81.8% on a year-over-year basis. During the same period last year, the business earned $4.50 EPS. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors 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 2.92%. Diamondback Energy's dividend payout ratio is presently 24.46%.

Wall Street Analyst Weigh In

FANG has been the subject of a number of analyst reports. Mizuho lowered 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. Scotiabank lowered their price target on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Piper Sandler lowered their price target on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Barclays lowered 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. Finally, UBS Group reduced their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $193.09.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president now directly owns 120,645 shares of the company's stock, 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. 0.70% of the stock is owned by company insiders.

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.