Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,684 shares of the oil and natural gas company’s stock after selling 10,263 shares during the quarter. Sei Investments Co. owned approximately 0.09% of Diamondback Energy worth $33,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FANG. Founders Capital Management grew its holdings in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. First Community Trust NA acquired a new position in Diamondback Energy in the second quarter worth about $26,000. Carolinas Wealth Consulting LLC increased its holdings 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 valued at $27,000 after buying an additional 55 shares during the last quarter. Logan Capital Management Inc. bought a new position in Diamondback Energy during the 4th quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter worth approximately $40,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FANG shares. UBS Group dropped their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Truist Financial raised their price target on shares of Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research initiated coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler dropped their price objective on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Barclays lifted their target price on Diamondback Energy from $214.00 to $216.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.71.

Diamondback Energy Stock Up 2.3 %

Shares of FANG stock opened at $185.25 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The business’s fifty day moving average is $191.77 and its 200-day moving average is $195.80. The stock has a market cap of $33.04 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89.

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

Diamondback Energy Increases Dividend

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

About Diamondback Energy

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.