Dakota Wealth Management Has $280,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Dakota Wealth Management lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 20.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,712 shares of the oil and natural gas company’s stock after selling 437 shares during the quarter. Dakota Wealth Management’s holdings in Diamondback Energy were worth $280,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after acquiring an additional 1,042,505 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at about $87,924,000. Holocene Advisors LP lifted its position in shares of Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after purchasing an additional 457,896 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after purchasing an additional 439,579 shares during the period. Finally, International Assets Investment Management LLC grew its position in Diamondback Energy by 17,151.2% during the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after purchasing an additional 338,050 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $173.26 on Friday. The company’s fifty day moving average is $170.28 and its two-hundred day moving average is $182.26. The firm has a market capitalization of $50.59 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 1.44 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 52-week low of $147.93 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the firm earned $5.49 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.58 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.08%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FANG. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Evercore ISI reduced their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Citigroup assumed coverage on Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price on the stock. Raymond James lifted their price target on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.00.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % 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. Corporate insiders own 0.48% of the company’s stock.

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.