Guinness Asset Management LTD Has $10.51 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Guinness Asset Management LTD reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,422 shares of the oil and natural gas company's stock after selling 9,710 shares during the period. Guinness Asset Management LTD's holdings in Diamondback Energy were worth $10,509,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. 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. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $42,000. CVA Family Office LLC grew its stake in shares of Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company's stock valued at $51,000 after buying an additional 65 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company's stock worth $52,000 after buying an additional 136 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Diamondback Energy during the third quarter valued at approximately $52,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

Diamondback Energy stock traded up $1.06 during mid-day trading on Monday, hitting $180.18. 1,810,899 shares of the company were exchanged, compared to its average volume of 2,013,453. The company has a market capitalization of $52.61 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The business has a fifty day moving average of $170.60 and a 200 day moving average of $182.92. Diamondback Energy, Inc. has a 1-year low of $147.93 and a 1-year high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $5.49 earnings per share. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 16.08 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy's dividend payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

FANG has been the topic of several analyst reports. Wolfe Research upgraded shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price target on the stock in a research note on Friday, January 3rd. UBS Group lowered their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. Mizuho reduced their price target on Diamondback Energy from $219.00 to $207.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. The Goldman Sachs Group began coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a "buy" rating and a $227.00 price target for the company. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of "Moderate Buy" and an average price target of $214.17.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company 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.