Voya Investment Management LLC Sells 60,289 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Voya Investment Management LLC lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 41.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,004 shares of the oil and natural gas company's stock after selling 60,289 shares during the quarter. Voya Investment Management LLC's holdings in Diamondback Energy were worth $13,926,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at about $29,000. UMB Bank n.a. lifted its position 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 worth $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc lifted its stake in 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 bought a new position in shares of Diamondback Energy in the 4th quarter worth about $38,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 2.1 %

FANG traded up $2.82 during midday trading on Thursday, hitting $134.83. 2,158,063 shares of the company's stock traded hands, compared to its average volume of 2,099,370. 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 company has a market cap of $39.65 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The stock's fifty day simple moving average is $143.60 and its 200-day simple moving average is $161.78. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50.

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

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's payout ratio is 25.32%.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru acquired 2,000 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

FANG has been the topic of several research reports. Piper Sandler dropped 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. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 5th. Royal Bank of Canada restated an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Bank of America raised Diamondback Energy from a "neutral" rating to a "buy" rating and cut their price target for the company from $202.00 to $170.00 in a report on Tuesday. Finally, Truist Financial increased their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Two 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $199.00.

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.