Wellington Shields & Co. LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,800 shares of the oil and natural gas company’s stock after selling 212 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Diamondback Energy were worth $295,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of FANG. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. grew its stake in shares of Diamondback Energy by 247.3% during the fourth 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 stake in shares of Diamondback Energy by 940.0% during the fourth 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. Finally, Rakuten Securities Inc. grew its stake in shares of Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. 90.01% of the stock is owned by institutional investors.
Insider Activity at Diamondback Energy
In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on FANG
Diamondback Energy Stock Up 3.0 %
Shares of FANG stock opened at $150.20 on Friday. The firm has a fifty day moving average of $162.00 and a 200-day moving average of $171.85. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50. The company has a market capitalization of $43.47 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.24 and a beta of 1.84.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.
Diamondback Energy Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.66%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 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.
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