Farther Finance Advisors LLC Cuts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Farther Finance Advisors LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 56.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 798 shares of the oil and natural gas company’s stock after selling 1,024 shares during the period. Farther Finance Advisors LLC’s holdings in Diamondback Energy were worth $131,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Lakewood Asset Management LLC boosted its stake in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares during the last quarter. Magnolia Capital Advisors LLC boosted its stake in Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. boosted its stake in Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock valued at $718,000 after purchasing an additional 64 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in Diamondback Energy by 2.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock valued at $482,000 after purchasing an additional 65 shares during the last quarter. Finally, Greenleaf Trust boosted its stake in Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after purchasing an additional 66 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $158.48 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $160.80 and its two-hundred day simple moving average is $170.76. The stock has a market cap of $45.87 billion, a PE ratio of 9.07, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50.

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

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.52%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is 25.32%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FANG shares. Raymond James lowered their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. The Goldman Sachs Group started coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Barclays lowered their price target on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday. Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lowered their price target on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.92.

Insider Activity

In other news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Company Profile

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.