MML Investors Services LLC Sells 1,910 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

MML Investors Services LLC trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,815 shares of the oil and natural gas company's stock after selling 1,910 shares during the period. MML Investors Services LLC's holdings in Diamondback Energy were worth $2,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Lakewood Asset Management LLC boosted its stake in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock valued at $1,858,000 after purchasing an additional 60 shares during the last quarter. Magnolia Capital Advisors LLC boosted its position in shares of Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock valued at $532,000 after buying an additional 64 shares during the last quarter. Barden Capital Management Inc. raised its position in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after buying an additional 64 shares during the last quarter. Greenleaf Trust raised its position in Diamondback Energy by 1.0% in the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock valued at $1,129,000 after buying an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC boosted its holdings in Diamondback Energy by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock worth $3,249,000 after acquiring an additional 67 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FANG shares. Truist Financial raised their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Piper Sandler cut their target price on Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price target for the company in a research report on Friday, January 3rd. Morgan Stanley reissued an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Finally, Mizuho lifted their target price on Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 25th. Three research 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.96.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $136.76 on Monday. The company's 50 day simple moving average is $145.04 and its two-hundred day simple moving average is $162.57. The stock has a market capitalization of $40.22 billion, a PE ratio of 7.83, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50.

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

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.92%. Diamondback Energy's payout ratio is presently 25.32%.

Insider Buying and Selling

In related news, Director Frank D. Tsuru purchased 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by company insiders.

About Diamondback Energy

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.

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