O Shaughnessy Asset Management LLC Sells 8,192 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

O Shaughnessy Asset Management LLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,816 shares of the oil and natural gas company's stock after selling 8,192 shares during the period. O Shaughnessy Asset Management LLC's holdings in Diamondback Energy were worth $4,393,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new position in Diamondback Energy during the 4th quarter valued at approximately $29,000. UMB Bank n.a. increased its position in Diamondback Energy by 247.3% during 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 buying an additional 136 shares in the last quarter. Key Financial Inc raised its stake in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after buying an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after acquiring an additional 106 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded down $17.91 during trading on Friday, hitting $123.37. The company had a trading volume of 5,423,563 shares, compared to its average volume of 2,004,450. Diamondback Energy, Inc. has a 12 month low of $123.15 and a 12 month high of $214.50. 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 firm has a market capitalization of $35.71 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The stock has a 50 day simple moving average of $155.91 and a 200 day simple moving average of $168.96.

Remove Ads

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

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio is presently 25.32%.

Insider Buying and Selling at Diamondback Energy

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FANG shares. Morgan Stanley lowered their price target on Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Wolfe Research raised shares of 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. Citigroup decreased their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, UBS Group increased their target price on Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $209.33.

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.