Sigma Planning Corp Cuts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Sigma Planning Corp lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 31.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,737 shares of the oil and natural gas company’s stock after selling 2,211 shares during the period. Sigma Planning Corp’s holdings in Diamondback Energy were worth $776,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Advocates Investment Management increased its position in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after buying an additional 55 shares in the last quarter. Lakewood Asset Management LLC grew its stake in shares of Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after acquiring an additional 60 shares during the last quarter. West Family Investments Inc. increased its holdings in shares of Diamondback Energy by 3.4% during the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after acquiring an additional 61 shares in the last quarter. Magnolia Capital Advisors LLC raised its position in shares of Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock worth $482,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $151.92 on Wednesday. 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 52 week low of $151.69 and a 52 week high of $214.50. The stock’s 50-day moving average price is $165.36 and its 200-day moving average price is $175.93. The stock has a market capitalization of $44.36 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.63%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FANG. Raymond James upped their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Piper Sandler cut their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Truist Financial raised their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $216.09.

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.