Diamondback Energy, Inc. $FANG Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,255 shares of the oil and natural gas company’s stock after selling 3,625 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Diamondback Energy were worth $4,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Flagship Harbor Advisors LLC bought a new position in shares of Diamondback Energy in the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth $26,000. Richardson Financial Services Inc. boosted its stake in shares of Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 125 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter worth $26,000. Finally, Wellington Shields & Co. LLC grew its holdings in shares of Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the transaction, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. This represents a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 113,691 shares of company stock valued at $21,622,752. 0.64% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

NASDAQ FANG opened at $186.60 on Thursday. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The company has a fifty day simple moving average of $192.60 and a 200 day simple moving average of $178.97. 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 company has a market cap of $52.49 billion, a P/E ratio of 216.98 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the company posted $4.54 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 19.33 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a dividend of $1.10 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is presently 511.63%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group raised their price objective on shares of Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Morgan Stanley cut their target price on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Susquehanna increased their target price on Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a report on Wednesday, May 6th. Scotiabank raised their target price on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Mizuho lifted their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $220.68.

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.