Adams Diversified Equity Fund Inc. Sells 21,400 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Adams Diversified Equity Fund Inc. reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 69,200 shares of the oil and natural gas company's stock after selling 21,400 shares during the quarter. Adams Diversified Equity Fund Inc.'s holdings in Diamondback Energy were worth $11,337,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FANG. Wintrust Investments LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth about $28,000. R Squared Ltd acquired a new stake in Diamondback Energy in the 4th quarter valued at approximately $29,000. UMB Bank n.a. increased its position in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after buying an additional 136 shares during the period. Key Financial Inc increased its position in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after buying an additional 188 shares during the period. Finally, Rakuten Securities Inc. boosted its position in shares of Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock valued at $45,000 after acquiring an additional 106 shares during the period. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FANG shares. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research report on Wednesday, March 5th. Royal Bank of Canada restated an "outperform" rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Morgan Stanley upped their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Citigroup decreased their target price on Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, UBS Group boosted their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $209.92.

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Insider Buying and Selling

In other news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Price Performance

Diamondback Energy stock traded up $0.59 on Tuesday, reaching $161.60. The company's stock had a trading volume of 2,323,798 shares, compared to its average volume of 1,873,848. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50. The company has a market cap of $46.77 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.24 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The business's fifty day moving average price is $160.14 and its 200 day moving average price is $170.13.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, March 6th. Diamondback Energy's dividend payout ratio is 25.32%.

Diamondback Energy Profile

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.