Ellis Investment Partners LLC Reduces Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Ellis Investment Partners LLC decreased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,265 shares of the oil and natural gas company’s stock after selling 300 shares during the period. Ellis Investment Partners LLC’s holdings in Diamondback Energy were worth $2,212,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new position in Diamondback Energy during the fourth quarter worth $27,000. BluePath Capital Management LLC purchased a new position in Diamondback Energy during the third quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Diamondback Energy during the third quarter worth $32,000. FinTrust Capital Advisors LLC increased its position in Diamondback Energy by 232.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Diamondback Energy during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.9 %

Shares of FANG traded down $1.92 during midday trading on Friday, reaching $206.34. 1,526,926 shares of the company were exchanged, compared to its average volume of 1,785,688. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96. The company has a market cap of $36.80 billion, a price-to-earnings ratio of 12.01 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $183.73 and a 200-day moving average price of $165.53.

Diamondback Energy (NASDAQ:FANGGet Free Report) last announced its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (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 for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company earned $5.29 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 18.52 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a $3.08 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 5.97%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is currently 20.76%.

Analyst Ratings Changes

A number of brokerages have recently commented on FANG. KeyCorp lifted their price objective on Diamondback Energy from $186.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Evercore ISI lifted their price objective on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Barclays began coverage on Diamondback Energy in a research report on Wednesday. They issued an “equal weight” rating and a $214.00 price objective for the company. Piper Sandler lifted their price objective on Diamondback Energy from $222.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.05.

Get Our Latest Research Report on FANG

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction 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 $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at $18,532,416. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock valued at $11,311,096 over the last three months. 0.43% of the stock is owned by insiders.

Diamondback Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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