Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 829,447 shares of the oil and natural gas company's stock after selling 29,262 shares during the quarter. Wells Fargo & Company MN owned about 0.46% of Diamondback Energy worth $128,630,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. Private Advisor Group LLC lifted its stake in Diamondback Energy by 12.4% in the third quarter. Private Advisor Group LLC now owns 24,155 shares of the oil and natural gas company's stock valued at $3,741,000 after buying an additional 2,673 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Diamondback Energy by 47.6% during the third quarter. Larson Financial Group LLC now owns 1,795 shares of the oil and natural gas company's stock worth $278,000 after purchasing an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Diamondback Energy by 0.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 48,998 shares of the oil and natural gas company's stock worth $7,589,000 after acquiring an additional 311 shares during the period. STF Management LP acquired a new position in Diamondback Energy during the third quarter worth $451,000. Finally, Signaturefd LLC grew its holdings in Diamondback Energy by 5.4% during the third quarter. Signaturefd LLC now owns 3,468 shares of the oil and natural gas company's stock worth $537,000 after acquiring an additional 179 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the sale, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now directly owns 7,585 shares of the company's stock, valued at approximately $1,516,241.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the transaction, the vice president now directly owns 8,485 shares of the company's stock, valued at $1,632,089.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,575 shares of company stock valued at $11,491,006. Insiders own 0.43% of the company's stock.

Diamondback Energy Stock Performance

Diamondback Energy stock traded down $0.38 during mid-day trading on Thursday, hitting $191.96. 1,394,587 shares of the company's stock traded hands, compared to its average volume of 1,682,778. The firm has a 50 day moving average price of $200.06 and a 200 day moving average price of $174.22. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The company has a market cap of $34.23 billion, a PE ratio of 10.82 and a beta of 1.91. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping analysts' consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the business earned $4.10 EPS. The company's quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts forecast that Diamondback Energy, Inc. will post 19.01 EPS for the current year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.88%. Diamondback Energy's dividend payout ratio is presently 20.29%.

Analyst Ratings Changes

A number of research firms have recently commented on FANG. Stifel Nicolaus raised their price objective on Diamondback Energy from $224.00 to $229.00 and gave the stock a "buy" rating in a report on Tuesday, April 23rd. Barclays assumed coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $214.00 price objective on the stock. Scotiabank raised their target price on Diamondback Energy from $210.00 to $255.00 and gave the company a "sector outperform" rating in a report on Thursday, April 11th. Truist Financial raised their target price on Diamondback Energy from $248.00 to $250.00 and gave the company a "buy" rating in a report on Monday, April 22nd. Finally, StockNews.com upgraded Diamondback Energy from a "hold" rating to a "buy" rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $205.95.

About Diamondback Energy

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.