Bryn Mawr Capital Management LLC Sells 91 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Bryn Mawr Capital Management LLC lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,900 shares of the oil and natural gas company’s stock after selling 91 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Diamondback Energy were worth $311,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. boosted its stake in 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 acquiring an additional 136 shares in the last quarter. Key Financial Inc increased its position in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy in the third quarter worth $52,000. Finally, Synergy Asset Management LLC bought a new stake in Diamondback Energy during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 2.1 %

Diamondback Energy stock opened at $155.59 on Friday. Diamondback Energy, Inc. has a 52 week low of $151.00 and a 52 week high of $214.50. 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 company has a market capitalization of $45.43 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The stock has a 50-day moving average price of $165.34 and a 200 day moving average price of $175.63.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a report on Friday, January 3rd. Truist Financial lifted their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Piper Sandler decreased their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Raymond James raised their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Four 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 company’s stock. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $216.09.

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.