Triangle Securities Wealth Management Sells 530 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Triangle Securities Wealth Management lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,512 shares of the oil and natural gas company’s stock after selling 530 shares during the period. Triangle Securities Wealth Management’s holdings in Diamondback Energy were worth $617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC lifted its stake in shares of Diamondback Energy by 366.7% in the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 176 shares in the last quarter. Adirondack Trust Co. lifted its stake in shares of Diamondback Energy by 275.0% in the third quarter. Adirondack Trust Co. now owns 225 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 165 shares in the last quarter. Private Trust Co. NA bought a new position in shares of Diamondback Energy in the second quarter worth approximately $28,000. SOA Wealth Advisors LLC. lifted its stake in shares of Diamondback Energy by 72.1% in the third quarter. SOA Wealth Advisors LLC. now owns 241 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 101 shares in the last quarter. Finally, First Personal Financial Services bought a new position in shares of Diamondback Energy in the third quarter worth approximately $32,000. Institutional investors own 89.76% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $123.12 on Friday. The firm has a fifty day moving average price of $141.75 and a 200-day moving average price of $141.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.81 and a quick ratio of 0.77. The stock has a market cap of $22.60 billion, a PE ratio of 5.00, a price-to-earnings-growth ratio of 0.26 and a beta of 2.03. Diamondback Energy, Inc. has a 1 year low of $103.71 and a 1 year high of $168.95.

Diamondback Energy (NASDAQ:FANG – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The oil and natural gas company reported $5.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.20 by $0.09. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Diamondback Energy had a net margin of 45.48% and a return on equity of 29.29%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.63 earnings per share. Equities analysts anticipate that Diamondback Energy, Inc. will post 22.08 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, March 3rd were paid a $2.95 dividend. The ex-dividend date was Thursday, March 2nd. This represents a $11.80 dividend on an annualized basis and a dividend yield of 9.58%. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.99%.

Insider Transactions at Diamondback Energy

In related news, VP Matt Zmigrosky sold 2,012 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $136.96, for a total transaction of $275,563.52. Following the completion of the transaction, the vice president now owns 23,623 shares in the company, valued at $3,235,406.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FANG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $182.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 8th. Citigroup boosted their price objective on shares of Diamondback Energy from $155.00 to $170.00 in a report on Tuesday, November 22nd. Bank of America cut shares of Diamondback Energy from a “neutral” rating to an “underperform” rating and set a $143.00 price objective for the company. in a report on Monday, November 28th. They noted that the move was a valuation call. Johnson Rice raised shares of Diamondback Energy from an “accumulate” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Monday, December 5th. Finally, Piper Sandler decreased their price objective on shares of Diamondback Energy from $214.00 to $207.00 and set an “overweight” rating for the company in a report on Tuesday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.45.

Diamondback Energy Profile

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Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.