Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,032 shares of the oil and natural gas company’s stock after selling 1,267 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Diamondback Energy were worth $2,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Coldstream Capital Management Inc. grew its position in shares of Diamondback Energy by 1.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after buying an additional 64 shares in the last quarter. MCF Advisors LLC boosted its holdings in Diamondback Energy by 8.6% in the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 67 shares in the last quarter. Veracity Capital LLC boosted its holdings in Diamondback Energy by 3.5% in the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 70 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Diamondback Energy by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after purchasing an additional 75 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its holdings in Diamondback Energy by 2.5% in the fourth quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after purchasing an additional 75 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $7.10 during trading hours on Wednesday, hitting $194.03. 1,398,872 shares of the company were exchanged, compared to its average volume of 1,722,687. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year 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. The business has a 50-day moving average of $194.24 and a 200-day moving average of $170.21. The stock has a market capitalization of $34.60 billion, a price-to-earnings ratio of 11.29 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the prior year, the business earned $4.10 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, analysts expect that Diamondback Energy, Inc. will post 18.83 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.86%. Diamondback Energy’s dividend payout ratio is presently 20.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FANG shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Monday, March 4th. Susquehanna upped their price target on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Barclays initiated coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price target for the company. Scotiabank boosted their price objective on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus boosted their price objective on Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. One equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $202.53.

Insider Buying and Selling

In related news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the sale, the vice president now owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock valued at $11,311,096 over the last quarter. Company insiders own 0.43% of the company’s stock.

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.