Copperwynd Financial LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,734 shares of the oil and natural gas company’s stock after selling 382 shares during the quarter. Copperwynd Financial LLC’s holdings in Diamondback Energy were worth $238,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in FANG. Tudor Investment Corp Et Al purchased a new stake in shares of Diamondback Energy during the third quarter valued at approximately $9,223,000. LPL Financial LLC raised its holdings in shares of Diamondback Energy by 64.4% during the third quarter. LPL Financial LLC now owns 51,401 shares of the oil and natural gas company’s stock valued at $4,866,000 after acquiring an additional 20,143 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of Diamondback Energy by 12.0% during the third quarter. Cetera Advisor Networks LLC now owns 7,229 shares of the oil and natural gas company’s stock valued at $684,000 after acquiring an additional 773 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of Diamondback Energy during the third quarter valued at approximately $261,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $35,000. 89.97% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on FANG. Truist Financial raised their target price on Diamondback Energy from $170.00 to $200.00 in a report on Thursday, April 21st. Piper Sandler raised their target price on Diamondback Energy from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, June 10th. StockNews.com assumed coverage on Diamondback Energy in a report on Thursday, March 31st. They issued a “buy” rating for the company. Bank of America downgraded Diamondback Energy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $165.00 to $170.00 in a report on Tuesday, March 8th. Finally, Morgan Stanley decreased their price objective on Diamondback Energy from $184.00 to $178.00 and set an “overweight” rating for the company in a report on Monday, June 6th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $167.35.
NASDAQ FANG opened at $121.21 on Friday. Diamondback Energy, Inc. has a 12 month low of $65.93 and a 12 month high of $162.24. The stock has a market cap of $21.51 billion, a P/E ratio of 7.99, a P/E/G ratio of 0.21 and a beta of 2.18. The stock’s fifty-day moving average price is $136.50 and its 200-day moving average price is $130.98. The company has a current ratio of 0.72, a quick ratio of 0.69 and a debt-to-equity ratio of 0.42.
Diamondback Energy (NASDAQ:FANG – Get Rating) last released its earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.46. Diamondback Energy had a return on equity of 19.91% and a net margin of 34.17%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the firm posted $2.30 earnings per share. As a group, analysts forecast that Diamondback Energy, Inc. will post 26.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 23rd. Investors of record on Thursday, May 12th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, May 11th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 2.31%. Diamondback Energy’s dividend payout ratio (DPR) is 18.46%.
In related news, CFO Hof Matthew Kaes Van sold 6,000 shares of the stock in a transaction on Monday, April 4th. The stock was sold at an average price of $140.02, for a total transaction of $840,120.00. Following the sale, the chief financial officer now directly owns 73,334 shares of the company’s stock, valued at $10,268,226.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $150.01, for a total value of $4,500,300.00. Following the completion of the transaction, the chief executive officer now directly owns 428,497 shares in the company, valued at $64,278,834.97. The disclosure for this sale can be found here. Insiders have sold 50,500 shares of company stock worth $7,580,970 over the last ninety days. 0.43% of the stock is currently owned by insiders.
Diamondback Energy Profile: (Get Rating)
Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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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