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Moody National Bank Trust Division Has $502,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Diamondback Energy logo with Oils/Energy background

Moody National Bank Trust Division reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 66.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,533 shares of the oil and natural gas company's stock after selling 5,000 shares during the period. Moody National Bank Trust Division's holdings in Diamondback Energy were worth $502,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its position in Diamondback Energy by 1.8% in the 4th quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company's stock worth $3,058,000 after purchasing an additional 354 shares during the period. Franklin Resources Inc. grew its position in Diamondback Energy by 14.1% in the 4th quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company's stock worth $7,852,000 after purchasing an additional 6,240 shares during the period. Raymond James Trust N.A. grew its position in shares of Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company's stock valued at $1,860,000 after acquiring an additional 7,102 shares during the period. Larson Financial Group LLC grew its position in shares of Diamondback Energy by 748.0% during the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company's stock valued at $2,361,000 after acquiring an additional 13,426 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of Diamondback Energy by 613.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company's stock valued at $2,388,000 after acquiring an additional 13,243 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.


Insider Activity

In related news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the sale, the executive vice president now directly owns 44,445 shares of the company's stock, valued at approximately $8,619,663.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the sale, the executive vice president now directly owns 44,445 shares of the company's stock, valued at approximately $8,619,663.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. Insiders sold 41,900 shares of company stock worth $8,332,450 in the last 90 days. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FANG shares. Sanford C. Bernstein started coverage on shares of Diamondback Energy in a research report on Thursday, June 6th. They set an "outperform" rating and a $243.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of Diamondback Energy from $195.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, May 6th. Bank of America reissued a "neutral" rating and set a $201.00 price objective on shares of Diamondback Energy in a research report on Friday, June 14th. Piper Sandler upped their target price on shares of Diamondback Energy from $227.00 to $247.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. Finally, Morgan Stanley dropped their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an "overweight" rating for the company in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $209.35.

Read Our Latest Report on Diamondback Energy

Diamondback Energy Stock Performance

FANG stock traded up $1.31 on Wednesday, hitting $188.87. The company's stock had a trading volume of 1,124,380 shares, compared to its average volume of 1,246,209. The stock has a market cap of $33.68 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.90. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The firm has a 50 day moving average of $197.76 and a two-hundred day moving average of $179.18.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced 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. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. Diamondback Energy's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.10 EPS. Equities analysts predict that Diamondback Energy, Inc. will post 19.05 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were issued a $0.90 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.91%. Diamondback Energy's dividend payout ratio is presently 20.29%.

About Diamondback Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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