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

Diamondback Energy logo with Oils/Energy background

Guinness Asset Management LTD decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,890 shares of the oil and natural gas company's stock after selling 6,410 shares during the quarter. Guinness Asset Management LTD owned approximately 0.06% of Diamondback Energy worth $20,162,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Founders Capital Management raised its stake in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company's stock worth $25,000 after buying an additional 101 shares during the period. BKM Wealth Management LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth about $27,000. Logan Capital Management Inc. bought a new position in shares of Diamondback Energy in the fourth quarter worth about $31,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth about $34,000. Finally, CVA Family Office LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth about $35,000. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FANG. Royal Bank of Canada raised their price objective on Diamondback Energy from $195.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, May 6th. Benchmark reissued a "buy" rating and set a $154.00 target price on shares of Diamondback Energy in a research note on Thursday. Evercore ISI lifted their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, March 25th. Sanford C. Bernstein initiated coverage on Diamondback Energy in a research note on Thursday, June 6th. They set an "outperform" rating and a $243.00 target price on the stock. Finally, Mizuho lifted their target price on Diamondback Energy from $217.00 to $222.00 and gave the company a "buy" rating in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has an average rating of "Moderate Buy" and an average target price of $209.35.


Check Out Our Latest Report on FANG

Diamondback Energy Trading Down 1.0 %

Shares of Diamondback Energy stock traded down $1.85 on Friday, reaching $190.88. The company had a trading volume of 3,343,005 shares, compared to its average volume of 1,230,019. The firm's 50-day moving average price is $197.14 and its two-hundred day moving average price is $179.74. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The firm has a market cap of $34.04 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 1.05 and a beta of 1.90.

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 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $2.10 billion. During the same quarter in the previous year, the business earned $4.10 EPS. Diamondback Energy's revenue was up 15.7% compared to the same quarter last year. As a group, research analysts predict that Diamondback Energy, Inc. will post 19.05 earnings per share for the current fiscal 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 issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy's payout ratio is currently 20.29%.

Insider Activity at Diamondback Energy

In related news, VP Jere W. Thompson III sold 900 shares of the business's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, 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 filing with the SEC, which is available at the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the sale, the chief operating officer now directly owns 69,677 shares of the company's stock, valued at $13,736,123.78. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock worth $7,362,750 in the last quarter. 0.48% of the stock is owned by company insiders.

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.

See Also

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

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