Diamondback Energy, Inc. $FANG Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 19.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 19,436 shares of the oil and natural gas company’s stock after selling 4,630 shares during the quarter. Systematic Financial Management LP’s holdings in Diamondback Energy were worth $3,844,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. boosted its holdings in 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 valued at $26,000 after purchasing an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in Diamondback Energy in the fourth quarter valued at about $26,000. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy during the 1st quarter valued at approximately $26,000. Finally, JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the 3rd quarter valued at approximately $26,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president directly owned 46,392 shares in the company, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the 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 sale, the chief accounting officer 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 113,691 shares of company stock valued at $21,622,752. 0.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FANG shares. Scotiabank lifted their price objective on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Barclays raised their price target on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Wells Fargo & Company set a $212.00 price target on shares of Diamondback Energy in a research note on Monday, June 22nd. Finally, Mizuho lifted their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $218.68.

Diamondback Energy Trading Down 0.4%

Diamondback Energy stock opened at $204.68 on Friday. The firm’s 50-day moving average is $191.42 and its 200-day moving average is $182.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The company has a market cap of $57.58 billion, a P/E ratio of 238.00 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the business posted $4.54 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Diamondback Energy, Inc. will post 18.9 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $1.10 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is 511.63%.

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.