Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,317 shares of the oil and natural gas company’s stock after selling 89 shares during the period. Foster & Motley Inc.’s holdings in Diamondback Energy were worth $980,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. BKM Wealth Management LLC purchased a new position in shares of Diamondback Energy during the 4th quarter worth about $27,000. BluePath Capital Management LLC purchased a new position in shares of Diamondback Energy in the 3rd quarter worth $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth $34,000. CVA Family Office LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at about $35,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the transaction, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,675 shares of company stock valued at $11,311,096. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FANG shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Monday, March 4th. Mizuho lifted their price target on shares of Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Susquehanna increased their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday. Truist Financial lifted their target price on shares of Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a report on Monday. Finally, Raymond James cut their price objective on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

Diamondback Energy Price Performance

Shares of FANG stock opened at $204.37 on Wednesday. The firm has a market cap of $36.45 billion, a P/E ratio of 11.79 and a beta of 1.93. The firm has a fifty day moving average of $191.41 and a two-hundred day moving average of $168.61. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the firm earned $5.29 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 18.67 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.03%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is 20.76%.

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.