Faithward Advisors LLC Trims Stock Holdings in Diamondback Energy, Inc. $FANG

Faithward Advisors LLC trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 70.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,172 shares of the oil and natural gas company’s stock after selling 17,162 shares during the quarter. Faithward Advisors LLC’s holdings in Diamondback Energy were worth $1,078,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. raised its holdings in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 125 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of Diamondback Energy in the third quarter worth approximately $26,000. Finally, Wellington Shields & Co. LLC raised its holdings in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 135 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on FANG. Barclays increased their price objective on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Sanford C. Bernstein increased their price objective on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. KeyCorp increased their price objective on Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Raymond James Financial reissued a “strong-buy” rating and issued a $249.00 price objective on shares of Diamondback Energy in a research note on Wednesday, June 10th. Finally, Wall Street Zen raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.63.

Diamondback Energy Stock Down 1.1%

Shares of NASDAQ FANG opened at $189.96 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $53.44 billion, a PE ratio of 220.89 and a beta of 0.42. The stock’s fifty day simple moving average is $195.63 and its two-hundred day simple moving average is $175.86. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.54 EPS. As a group, analysts expect that Diamondback Energy, Inc. will post 19.92 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is 511.63%.

Insider Transactions at Diamondback Energy

In other news, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 53,315 shares of company stock worth $10,414,384. 0.64% of the stock is currently owned by corporate insiders.

Diamondback Energy Company Profile

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.