Clarius Group LLC Sells 60 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Clarius Group LLC lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,733 shares of the oil and natural gas company’s stock after selling 60 shares during the period. Clarius Group LLC’s holdings in Diamondback Energy were worth $299,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Founders Capital Management raised its holdings in Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. First Community Trust NA acquired a new position in shares of Diamondback Energy in the second quarter valued at $26,000. Carolinas Wealth Consulting LLC lifted its position in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy during the second quarter worth $40,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after buying an additional 136 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FANG. Piper Sandler reduced their price objective on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Susquehanna cut their price target on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Jefferies Financial Group began coverage on Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective on the stock. Bank of America raised their target price on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company lowered their price target on Diamondback Energy from $230.00 to $219.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $208.59.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $194.96 on Friday. The business’s 50-day simple moving average is $187.20 and its 200 day simple moving average is $195.27. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The stock has a market cap of $34.77 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.22 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.68 EPS. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $2.34 per share. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s payout ratio is presently 20.29%.

Diamondback Energy Company Profile

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.