Doheny Asset Management CA Sells 150 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Doheny Asset Management CA decreased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,160 shares of the oil and natural gas company’s stock after selling 150 shares during the quarter. Diamondback Energy makes up 2.7% of Doheny Asset Management CA’s holdings, making the stock its 9th biggest position. Doheny Asset Management CA’s holdings in Diamondback Energy were worth $3,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth about $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy in the fourth quarter worth about $29,000. UMB Bank n.a. lifted its stake in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc lifted its stake in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after buying an additional 106 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their target price on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 5th. Piper Sandler dropped their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Raymond James cut their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.92.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $150.20 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $162.00 and a two-hundred day moving average price of $171.85. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50. The company has a market capitalization of $43.47 billion, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.84.

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 for the quarter, beating the consensus estimate of $3.57 by $0.07. The firm 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%. As a group, research analysts expect 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 given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.66%. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Insider Buying and Selling

In related news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.