Sovereign s Capital Management LLC Sells 5,311 Shares of Diamondback Energy, Inc. $FANG

Sovereign s Capital Management LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 62.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,154 shares of the oil and natural gas company’s stock after selling 5,311 shares during the period. Sovereign s Capital Management LLC’s holdings in Diamondback Energy were worth $474,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Diamondback Energy by 9.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,355,480 shares of the oil and natural gas company’s stock worth $337,078,000 after purchasing an additional 198,919 shares during the last quarter. Smead Capital Management Inc. lifted its stake in Diamondback Energy by 24.6% in the 3rd quarter. Smead Capital Management Inc. now owns 1,312,413 shares of the oil and natural gas company’s stock valued at $187,806,000 after purchasing an additional 258,738 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Diamondback Energy by 18.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,308 shares of the oil and natural gas company’s stock valued at $20,942,000 after purchasing an additional 21,575 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Diamondback Energy by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,441,622 shares of the oil and natural gas company’s stock valued at $216,719,000 after purchasing an additional 56,194 shares during the last quarter. Finally, Eagle Global Advisors LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at about $5,472,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Sanford C. Bernstein boosted their target price on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Wall Street Zen raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Freedom Capital raised Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Citigroup boosted their target price on Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $223.63.

Insider Buying and Selling at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 38,214 shares of company stock worth $7,553,002. Insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Down 1.0%

FANG stock opened at $188.12 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $52.92 billion, a PE ratio of 218.75 and a beta of 0.42. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The business’s 50 day simple moving average is $195.51 and its 200 day simple moving average is $176.13.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the business earned $4.54 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 19.92 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $1.10 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Diamondback Energy’s dividend payout ratio (DPR) is presently 511.63%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.