Diamondback Energy, Inc. (NASDAQ:FANG) Position Lessened by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 460,663 shares of the oil and natural gas company’s stock after selling 32,995 shares during the quarter. Diamondback Energy comprises about 1.9% of Anchor Capital Advisors LLC’s portfolio, making the stock its 8th biggest position. Anchor Capital Advisors LLC owned approximately 0.26% of Diamondback Energy worth $71,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FANG. Massachusetts Financial Services Co. MA increased its holdings in shares of Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after acquiring an additional 858,446 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in Diamondback Energy during the 3rd quarter worth $128,720,000. Wellington Management Group LLP grew its stake in Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after buying an additional 648,317 shares during the last quarter. Raymond James & Associates grew its stake in Diamondback Energy by 143.0% during the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after buying an additional 577,514 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Diamondback Energy by 286.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock worth $92,380,000 after buying an additional 441,411 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. KeyCorp boosted their target price on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Mizuho lifted their price target on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley lowered their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Evercore ISI lifted their price target on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $202.53.

Diamondback Energy Stock Down 0.9 %

NASDAQ:FANG traded down $1.90 during midday trading on Monday, reaching $205.86. The company had a trading volume of 1,576,075 shares, compared to its average volume of 1,723,256. The firm has a market capitalization of $36.71 billion, a price-to-earnings ratio of 11.87 and a beta of 1.93. The stock’s fifty day simple moving average is $193.25 and its 200-day simple moving average is $169.66. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business posted $5.29 earnings per share. Diamondback Energy’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.83 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a dividend yield of 5.98%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s payout ratio is 20.76%.

Insider Transactions at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.94, for a total transaction of $969,700.00. Following the sale, the executive vice president now owns 44,445 shares of the company’s stock, valued at approximately $8,619,663.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,675 shares of company stock worth $11,311,096. Corporate insiders own 0.43% of the company’s stock.

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.