Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 31.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,343 shares of the oil and natural gas company’s stock after selling 1,988 shares during the period. Frank Rimerman Advisors LLC’s holdings in Diamondback Energy were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $298,327,000. Assenagon Asset Management S.A. boosted its stake in shares of Diamondback Energy by 1,153.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after buying an additional 1,042,505 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Diamondback Energy by 30.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after buying an additional 658,644 shares during the period. Zimmer Partners LP acquired a new stake in shares of Diamondback Energy during the third quarter worth about $87,924,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after buying an additional 502,916 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Piper Sandler lowered their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Williams Trading set a $190.00 price objective on Diamondback Energy in a report on Wednesday, March 5th. Finally, Raymond James lowered their price objective on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $211.92.

Diamondback Energy Trading Up 3.0 %

Shares of Diamondback Energy stock opened at $150.20 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50. The company has a market capitalization of $43.47 billion, a P/E ratio of 8.60, a P/E/G ratio of 1.24 and a beta of 1.84. The business has a 50 day moving average price of $162.00 and a 200 day moving average price of $171.69.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.55 billion. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s payout ratio is presently 25.32%.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, 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 purchase was disclosed in a filing with the SEC, which is available at this link. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy 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.