Diamondback Energy, Inc. $FANG Shares Sold by Aventail Capital Group LP

Aventail Capital Group LP trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 45.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 27,489 shares of the oil and natural gas company’s stock after selling 22,657 shares during the period. Aventail Capital Group LP’s holdings in Diamondback Energy were worth $4,132,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FANG. Cresset Asset Management LLC grew its holdings in shares of Diamondback Energy by 37.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock worth $649,000 after acquiring an additional 1,288 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter worth $2,301,000. Cerity Partners LLC grew its holdings in shares of Diamondback Energy by 13.5% in the 2nd quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after acquiring an additional 6,069 shares during the last quarter. AXA S.A. grew its holdings in shares of Diamondback Energy by 8.5% in the 2nd quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after acquiring an additional 4,103 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Diamondback Energy by 37.1% in the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock worth $21,239,000 after acquiring an additional 41,866 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total value of $1,000,500.00. Following the transaction, the executive vice president directly owned 51,392 shares in the company, valued at approximately $10,283,539.20. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 121,548 shares of company stock valued at $23,146,460. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $185.48 on Thursday. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The stock’s 50-day moving average is $195.33 and its two-hundred day moving average is $176.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The firm has a market cap of $52.18 billion, a P/E ratio of 215.68 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.54 earnings per share. On average, analysts anticipate that Diamondback Energy, Inc. will post 19.92 earnings per share 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 paid a $1.10 dividend. The ex-dividend date was Thursday, May 14th. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. Diamondback Energy’s dividend payout ratio is presently 511.63%.

Wall Street Analysts Forecast Growth

FANG has been the subject of several recent analyst reports. KeyCorp raised their target price on Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Citigroup raised their target price on Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Zacks Research cut Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Susquehanna raised their target price on Diamondback Energy from $231.00 to $245.00 and gave the stock a “positive” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley raised their target price on Diamondback Energy from $224.00 to $229.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $223.63.

Diamondback Energy 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.