Morse Asset Management Inc Lowers Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Morse Asset Management Inc cut its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,733 shares of the oil and natural gas company's stock after selling 1,997 shares during the period. Morse Asset Management Inc's holdings in Diamondback Energy were worth $3,561,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FANG. Wintrust Investments LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. grew its holdings in Diamondback Energy by 247.3% in 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 during the period. Key Financial Inc grew its holdings in Diamondback Energy by 940.0% in the fourth 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 period. Finally, Ancora Advisors LLC grew its holdings in Diamondback Energy by 182.9% in the fourth 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 period. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FANG has been the topic of several research reports. KeyCorp decreased their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Piper Sandler decreased their target price on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Williams Trading set a $190.00 target price on Diamondback Energy in a research report on Wednesday, March 5th. Finally, UBS Group decreased their target price on 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 equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $194.09.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now directly owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Down 0.6%

NASDAQ FANG traded down $0.82 during trading on Friday, reaching $141.13. 2,291,301 shares of the company's stock were exchanged, compared to its average volume of 2,141,691. The stock has a market cap of $41.23 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. 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 company has a 50 day moving average price of $141.25 and a two-hundred day moving average price of $158.00. 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 released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion for 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 firm's revenue was up 81.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.50 earnings per share. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

Diamondback Energy 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.