Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 881,577 shares of the oil and natural gas company's stock after selling 136,544 shares during the period. Wells Fargo & Company MN owned approximately 0.30% of Diamondback Energy worth $144,429,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Boston Partners grew its holdings in Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after purchasing an additional 571,820 shares during the period. Geode Capital Management LLC increased its stake in Diamondback Energy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after buying an additional 91,605 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after acquiring an additional 502,916 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 30.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after buying an additional 658,644 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Diamondback Energy during the fourth quarter valued at $298,327,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several brokerages have commented on FANG. JPMorgan Chase & Co. cut their price target on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating for the company in a report on Thursday. Barclays dropped their target price on Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price objective for the company from $157.00 to $180.00 in a research note on Monday. Williams Trading set a $190.00 price target on Diamondback Energy in a research report on Wednesday, March 5th. Finally, Raymond James decreased their price objective on shares of 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. Three equities research 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $210.25.

Insider Buying and Selling

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $0.21 during midday trading on Friday, hitting $123.37. 1,072,107 shares of the company's stock were exchanged, compared to its average volume of 2,049,563. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The firm's 50 day simple moving average is $150.81 and its 200 day simple moving average is $166.63. 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 stock has a market cap of $36.28 billion, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44.

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

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.24%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio is currently 25.32%.

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.