Diamondback Energy, Inc. (NASDAQ:FANG) Position Trimmed by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,995 shares of the oil and natural gas company's stock after selling 24,742 shares during the period. Commonwealth Equity Services LLC's holdings in Diamondback Energy were worth $8,355,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FANG. Raymond James Financial Inc. purchased a new position in Diamondback Energy in the fourth quarter valued at about $298,327,000. Assenagon Asset Management S.A. boosted its stake in shares of Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company's stock valued at $185,606,000 after buying an additional 1,042,505 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of Diamondback Energy during the third quarter worth approximately $87,924,000. Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock worth $682,036,000 after buying an additional 502,916 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company's stock valued at $161,793,000 after acquiring an additional 457,896 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

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Analysts Set New Price Targets

FANG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Raymond James dropped their target price on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 12th. Piper Sandler reduced their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Morgan Stanley increased their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a "buy" rating and a $227.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $209.92.

Diamondback Energy Price Performance

Diamondback Energy stock traded up $2.51 during mid-day trading on Monday, hitting $161.01. The company's stock had a trading volume of 2,042,245 shares, compared to its average volume of 1,875,216. The stock has a market capitalization of $46.60 billion, a P/E ratio of 9.22, a P/E/G ratio of 1.24 and a beta of 1.85. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average price is $160.47 and its two-hundred day moving average price is $170.29. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.48%. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price 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 trade represents a 53.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by insiders.

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.