SeaBridge Investment Advisors LLC Lowers Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

SeaBridge Investment Advisors LLC reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,382 shares of the oil and natural gas company’s stock after selling 555 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Diamondback Energy were worth $3,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $29,000. UMB Bank n.a. boosted its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $42,000. CVA Family Office LLC boosted its holdings in shares of Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 65 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $52,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

FANG opened at $164.36 on Friday. The company has a 50-day moving average of $168.98 and a 200-day moving average of $181.00. The company has a market capitalization of $47.99 billion, a P/E ratio of 9.41, a PEG ratio of 1.33 and a beta of 1.88. Diamondback Energy, Inc. has a 1-year low of $147.93 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.49 EPS. Equities analysts expect that Diamondback Energy, Inc. will post 15.55 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FANG. Citigroup began coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. Susquehanna decreased their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Raymond James lifted their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, UBS Group reduced their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Four equities 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $215.00.

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.