Renaissance Technologies LLC trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ: FANG – Get Rating) by 70.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 53,172 shares of the oil and natural gas company stock after selling 124,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Diamondback Energy were worth $ 5,735,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at $ 26,000. Paragon Capital Management Ltd acquired a new stake in Diamondback Energy in the fourth quarter valued at about $ 28,000. Harbor Investment Advisory LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at about $ 35,000. Confluence Wealth Services Inc. acquired a new stake in Diamondback Energy in the fourth quarter valued at about $ 38,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in Diamondback Energy in the fourth quarter valued at about $ 42,000. Hedge funds and other institutional investors own 89.97% of the company stock.
Several equities analysts have commented on FANG shares. TheStreet upgraded Diamondback Energy from a “c +” rating to a “b” rating in a research report on Tuesday, February 22nd. Susquehanna raised their price objective on Diamondback Energy from $ 152.00 to $ 167.00 and gave the stock a “positive” rating in a research report on Monday, April 25th. Raymond James raised their price target on Diamondback Energy from $ 195.00 to $ 200.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 25th. Credit Suisse Group raised their price target on Diamondback Energy from $ 138.00 to $ 140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 23rd. Finally, Susquehanna Bancshares raised their price target on Diamondback Energy from $ 152.00 to $ 167.00 and gave the stock a “positive” rating in a research report on Monday, April 25th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $ 160.63.
In related news, CAO Teresa L. Dick sold 2,500 shares of Diamondback Energy stock in a transaction on Friday, May 27th. The stock was sold at an average price of $ 152.22, for a total transaction of $ 380,550.00. Following the sale, the chief accounting officer now directly owns 57,308 shares in the company, valued at $ 8,723,423.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 6,000 shares of Diamondback Energy stock in a transaction on Monday, April 4th. The stock was sold at an average price of $ 140.02, for a total value of $ 840,120.00. Following the sale, the chief financial officer now owns 73,334 shares in the company, valued at $ 10,268,226.68. The disclosure for this sale can be found here. Insiders have sold 47,000 shares of company stock worth $ 6,971,045 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.
Shares of Diamondback Energy stock opened at $ 154.66 on Friday. The stock has a market capitalization of $ 27.45 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 0.27 and a beta of 2.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.69 and a current ratio of 0.72. Diamondback Energy, Inc. has a 52 week low of $ 65.93 and a 52 week high of $ 159.69. The stock has a 50 day moving average price of $ 137.17 and a two-hundred day moving average price of $ 127.11.
Diamondback Energy (NASDAQ: FANG – Get Rating) last announced its earnings results on Monday, May 2nd. The oil and natural gas company reported $ 5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 4.74 by $ 0.46. The company had revenue of $ 2.41 billion for the quarter, compared to analysts’ expectations of $ 1.93 billion. Diamondback Energy had a return on equity of 19.91% and a net margin of 34.17%. During the same quarter in the previous year, the firm earned $ 2.30 earnings per share. Research analysts forecast that Diamondback Energy, Inc. will post 25.64 EPS for the current year.
The business also recently announced 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. This is a boost from Diamondback Energy’s previous quarterly dividend of $ 0.60. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $ 2.80 annualized dividend and a dividend yield of 1.81%. Diamondback Energy’s payout ratio is presently 18.46%.
Diamondback Energy Company 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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