Diamondback Energy, Inc. $FANG Shares Sold by Reliant Investment Management LLC

Reliant Investment Management LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 96.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,310 shares of the oil and natural gas company’s stock after selling 33,368 shares during the period. Reliant Investment Management LLC’s holdings in Diamondback Energy were worth $259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in Diamondback Energy in the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC purchased a new position in Diamondback Energy during the fourth quarter worth about $26,000. Richardson Financial Services Inc. increased its holdings in Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Diamondback Energy in the third quarter valued at approximately $26,000. Finally, Wellington Shields & Co. LLC raised its position in Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the transaction, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 121,548 shares of company stock valued at $23,146,460 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Down 2.2%

Shares of Diamondback Energy stock opened at $171.96 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51. The company has a market capitalization of $48.37 billion, a P/E ratio of 199.96 and a beta of 0.42. The company has a 50 day moving average of $194.31 and a 200 day moving average of $178.10.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $4.54 EPS. As a group, research analysts forecast that Diamondback Energy, Inc. will post 19.47 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $1.10 dividend. 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 yield of 2.6%. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s payout ratio is 511.63%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup raised their price target on Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Scotiabank raised their target price on Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group upped their target price on shares of Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Raymond James Financial reissued a “strong-buy” rating and issued a $249.00 price target on shares of Diamondback Energy in a research report on Wednesday, June 10th. Finally, Freedom Capital raised Diamondback Energy to a “strong-buy” rating in a research report on Tuesday, March 10th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $220.68.

Diamondback Energy Company 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.