Diamondback Energy, Inc. $FANG Stock Position Decreased by Coyle Financial Counsel LLC

Coyle Financial Counsel LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 54.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,954 shares of the oil and natural gas company’s stock after selling 3,500 shares during the quarter. Coyle Financial Counsel LLC’s holdings in Diamondback Energy were worth $444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Boston Partners boosted its position in shares of Diamondback Energy by 2.9% in the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after buying an additional 163,548 shares during the period. Geode Capital Management LLC boosted its position in shares of Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after buying an additional 14,625 shares during the period. Capital Research Global Investors boosted its position in shares of Diamondback Energy by 38.0% in the third quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock worth $543,610,000 after buying an additional 1,046,398 shares during the period. Invesco Ltd. boosted its position in shares of Diamondback Energy by 9.6% in the third quarter. Invesco Ltd. now owns 3,120,359 shares of the oil and natural gas company’s stock worth $446,523,000 after buying an additional 274,331 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Diamondback Energy by 9.2% in the third 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 buying an additional 198,919 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 Charles Alvin Meloy sold 7,857 shares of Diamondback Energy stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $183.27, for a total value of $1,439,952.39. Following the transaction, the director directly owned 974,149 shares in the company, valued at approximately $178,532,287.23. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Matt Zmigrosky sold 20,899 shares of Diamondback Energy stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $180.00, for a total value of $3,761,820.00. Following the completion of the transaction, the executive vice president owned 60,493 shares in the company, valued at $10,888,740. The trade was a 25.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 174,321 shares of company stock valued at $32,090,475 in the last ninety days. Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of several recent analyst reports. Roth Mkm reaffirmed a “neutral” rating and issued a $205.00 target price on shares of Diamondback Energy in a research report on Tuesday, May 5th. The Goldman Sachs Group raised their target price on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. UBS Group raised their target price on Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Citigroup increased their price objective on Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $223.26.

Diamondback Energy Price Performance

NASDAQ FANG opened at $191.48 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $133.75 and a fifty-two week high of $214.51. The stock’s 50-day moving average is $195.28 and its two-hundred day moving average is $171.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The firm has a market cap of $53.87 billion, a P/E ratio of 222.65 and a beta of 0.46.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $4.54 earnings per share. On average, analysts anticipate that Diamondback Energy, Inc. will post 19.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $1.10 dividend. The ex-dividend date 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 is presently 511.63%.

About Diamondback Energy

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.