Treasurer of the State of North Carolina Decreases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Treasurer of the State of North Carolina decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 0.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 84,328 shares of the oil and natural gas company’s stock after selling 419 shares during the period. Treasurer of the State of North Carolina’s holdings in Diamondback Energy were worth $13,078,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. BKM Wealth Management LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $34,000. CVA Family Office LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $35,000. Cary Street Partners Investment Advisory LLC increased its position in shares of Diamondback Energy by 559.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 218 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Diamondback Energy by 37.3% during the 4th quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at $13,736,123.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Jere W. Thompson III sold 2,675 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the transaction, the vice president now owns 8,485 shares in the company, valued at $1,632,089.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. Insiders have sold a total of 64,575 shares of company stock worth $12,673,846 over the last quarter. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of several research reports. Royal Bank of Canada upped their price target on shares of Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Evercore ISI boosted their price objective on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Truist Financial boosted their price objective on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Scotiabank boosted their price objective on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $205.95.

Read Our Latest Research Report on Diamondback Energy

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $197.34 on Friday. The stock’s fifty day moving average is $200.41 and its 200 day moving average is $175.54. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The firm has a market capitalization of $35.19 billion, a PE ratio of 11.12 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the firm posted $4.10 EPS. Diamondback Energy’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.04 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were paid a $0.90 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.82%. Diamondback Energy’s payout ratio is 20.29%.

Diamondback Energy Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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