Inspire Investing LLC Sells 16,741 Shares of Diamondback Energy, Inc. $FANG

Inspire Investing LLC reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 37.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,905 shares of the oil and natural gas company’s stock after selling 16,741 shares during the quarter. Inspire Investing LLC’s holdings in Diamondback Energy were worth $3,993,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Comerica Bank lifted its holdings in shares of Diamondback Energy by 20.1% during the first quarter. Comerica Bank now owns 71,430 shares of the oil and natural gas company’s stock worth $11,420,000 after buying an additional 11,952 shares during the last quarter. Keeley Teton Advisors LLC increased its position in Diamondback Energy by 1.1% during the first quarter. Keeley Teton Advisors LLC now owns 12,245 shares of the oil and natural gas company’s stock worth $1,958,000 after acquiring an additional 131 shares during the period. CreativeOne Wealth LLC raised its stake in Diamondback Energy by 33.9% during the 1st quarter. CreativeOne Wealth LLC now owns 13,071 shares of the oil and natural gas company’s stock valued at $2,090,000 after purchasing an additional 3,306 shares during the last quarter. Ieq Capital LLC raised its stake in Diamondback Energy by 279.3% during the 1st quarter. Ieq Capital LLC now owns 5,997 shares of the oil and natural gas company’s stock valued at $959,000 after purchasing an additional 4,416 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its holdings in Diamondback Energy by 21.0% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 4,106 shares of the oil and natural gas company’s stock valued at $656,000 after purchasing an additional 713 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FANG. Susquehanna dropped their price objective on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Mizuho set a $194.00 target price on Diamondback Energy in a research note on Friday, December 12th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday. Roth Capital set a $162.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Barclays lowered their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $188.76.

Insider Activity at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Diamondback Energy Trading Down 0.5%

Shares of Diamondback Energy stock opened at $147.47 on Thursday. The stock has a market capitalization of $42.23 billion, a P/E ratio of 10.25 and a beta of 0.63. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $180.91. The company has a 50-day simple moving average of $148.08 and a 200 day simple moving average of $144.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.14. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The business’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.19 EPS. Research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s dividend payout ratio is presently 27.80%.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.