Fidelis Capital Partners LLC Sells 2,646 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Fidelis Capital Partners LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 47.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,910 shares of the oil and natural gas company’s stock after selling 2,646 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Diamondback Energy were worth $479,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Diamondback Energy during the 4th quarter worth $29,000. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc grew its holdings in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Diamondback Energy during the 3rd quarter worth approximately $52,000. Finally, Synergy Asset Management LLC bought a new position in Diamondback Energy in the 4th quarter valued at approximately $67,000. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Frank D. Tsuru acquired 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FANG shares. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Morgan Stanley increased their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Friday, January 3rd. Piper Sandler dropped their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $216.09.

Diamondback Energy Trading Down 2.0 %

NASDAQ:FANG opened at $145.04 on Wednesday. Diamondback Energy, Inc. has a 12 month low of $140.81 and a 12 month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $41.98 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 1.24 and a beta of 1.86. The firm has a fifty day simple moving average of $165.00 and a two-hundred day simple moving average of $174.34.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a dividend of $1.00 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.76%. Diamondback Energy’s dividend payout ratio is presently 25.32%.

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.