Ghisallo Capital Management LLC Lowers Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Ghisallo Capital Management LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 350,000 shares of the oil and natural gas company's stock after selling 350,000 shares during the quarter. Diamondback Energy accounts for approximately 3.3% of Ghisallo Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Ghisallo Capital Management LLC owned about 0.12% of Diamondback Energy worth $57,340,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at $28,000. R Squared Ltd bought a new position in Diamondback Energy in the fourth quarter valued at about $29,000. UMB Bank n.a. boosted its stake in shares of Diamondback Energy by 247.3% during the fourth 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 in the last quarter. Key Financial Inc grew its holdings in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after purchasing an additional 188 shares during the last quarter. Finally, Transce3nd LLC acquired a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Stock Down 3.4 %

Shares of NASDAQ FANG traded down $4.64 during trading on Wednesday, hitting $132.01. The stock had a trading volume of 1,972,874 shares, compared to its average volume of 1,819,594. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a fifty day moving average of $144.08 and a two-hundred day moving average of $161.99. Diamondback Energy, Inc. has a 12 month low of $130.57 and a 12 month high of $139.08. The company has a market capitalization of $38.82 billion, a PE ratio of 7.56, a PEG ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Analyst Ratings Changes

FANG has been the topic of several recent research reports. Truist Financial lifted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Piper Sandler reduced their price objective on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Barclays lowered their target price on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Raymond James reduced their price target on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 12th. Finally, Scotiabank dropped their price target on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of "Buy" and a consensus price target of $199.00.

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.