Capital Research Global Investors Sells 75,048 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Capital Research Global Investors decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 413,251 shares of the oil and natural gas company's stock after selling 75,048 shares during the period. Capital Research Global Investors owned about 0.14% of Diamondback Energy worth $67,703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. boosted its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc grew its stake in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after purchasing an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. increased its position in Diamondback Energy by 62.4% in the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after purchasing an additional 106 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded up $0.60 during trading on Friday, hitting $136.76. 1,608,355 shares of the stock were exchanged, compared to its average volume of 2,093,456. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The stock has a market capitalization of $40.22 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a fifty day moving average price of $145.44 and a 200-day moving average price of $163.39. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.92%. Diamondback Energy's payout ratio is currently 25.32%.

Analysts Set New Price Targets

FANG has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating on the stock in a report on Monday. Piper Sandler cut their price target on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a report on Tuesday. Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Royal Bank of Canada restated an "outperform" rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.96.

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.