Diamondback Energy, Inc. (NASDAQ:FANG) Position Reduced by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 56.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,274 shares of the oil and natural gas company’s stock after selling 4,228 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Diamondback Energy were worth $508,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. MCF Advisors LLC boosted its holdings in Diamondback Energy by 8.6% during the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock worth $131,000 after buying an additional 67 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Diamondback Energy by 2.5% during the 4th quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after acquiring an additional 75 shares in the last quarter. Simplicity Solutions LLC grew its holdings in shares of Diamondback Energy by 2.5% in the 4th quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after acquiring an additional 75 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Diamondback Energy by 3.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 2,796 shares of the oil and natural gas company’s stock worth $434,000 after purchasing an additional 82 shares during the period. Finally, Dana Investment Advisors Inc. lifted its holdings in shares of Diamondback Energy by 1.4% during the third quarter. Dana Investment Advisors Inc. now owns 6,221 shares of the oil and natural gas company’s stock valued at $964,000 after purchasing an additional 84 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 0.2 %

Diamondback Energy stock opened at $191.96 on Friday. 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’s fifty day simple moving average is $200.06 and its 200-day simple moving average is $174.22. The company has a market capitalization of $34.23 billion, a P/E ratio of 10.82 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANGGet Free Report) last posted its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.21. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $4.10 earnings per share. Sell-side analysts forecast that Diamondback Energy, Inc. will post 19.01 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is 20.29%.

Insider Transactions at Diamondback Energy

In related news, VP Jere W. Thompson III sold 900 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now directly owns 7,585 shares in the company, valued at approximately $1,516,241.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jere W. Thompson III sold 900 shares of the firm’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 sale, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,575 shares of company stock worth $11,491,006. 0.43% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on FANG shares. KeyCorp boosted their price objective on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Evercore ISI boosted their price target on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Scotiabank increased 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. Finally, Stifel Nicolaus lifted their price target on Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $205.95.

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Diamondback Energy Company Profile

(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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