Cerity Partners LLC Sells 2,630 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Cerity Partners LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,354 shares of the oil and natural gas company's stock after selling 2,630 shares during the quarter. Cerity Partners LLC's holdings in Diamondback Energy were worth $8,387,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $28,000. R Squared Ltd bought a new position in shares of Diamondback Energy during the fourth quarter valued at $29,000. UMB Bank n.a. boosted its stake in shares of 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 valued at $31,000 after purchasing an additional 136 shares in the last quarter. Key Financial Inc grew its holdings in shares of 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 purchasing an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. increased its position in shares of Diamondback Energy by 62.4% during 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 in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FANG. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price objective for the stock from $157.00 to $180.00 in a report on Monday, April 7th. Mizuho lifted their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research report on Tuesday, February 25th. 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. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Finally, Barclays decreased their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $208.17.

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Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm's 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 directly owns 5,730 shares of the company's stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 2.4 %

NASDAQ FANG traded up $3.02 during trading hours on Wednesday, reaching $130.16. 1,546,026 shares of the company's stock were exchanged, compared to its average volume of 2,069,479. 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 company has a market capitalization of $38.28 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company's 50-day moving average is $148.66 and its two-hundred day moving average is $165.69. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50.

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

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given 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 3.07%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's dividend payout ratio is currently 25.32%.

Diamondback Energy Company 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.