Wellington Shields & Co. LLC Sells 212 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Wellington Shields & Co. LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) 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

Several equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Raymond James cut their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. Mizuho increased their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Finally, Piper Sandler cut their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.92.

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) 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.