Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Seelaus Asset Management LLC

Seelaus Asset Management LLC decreased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,470 shares of the oil and natural gas company’s stock after selling 149 shares during the period. Seelaus Asset Management LLC’s holdings in Diamondback Energy were worth $426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. grew its position in shares of Diamondback Energy by 2.3% during the first quarter. Avantax Advisory Services Inc. now owns 5,118 shares of the oil and natural gas company’s stock worth $1,014,000 after acquiring an additional 114 shares during the last quarter. Blair William & Co. IL increased its position in Diamondback Energy by 13.6% in the 1st quarter. Blair William & Co. IL now owns 5,330 shares of the oil and natural gas company’s stock valued at $1,056,000 after acquiring an additional 640 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its position in Diamondback Energy by 9.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,953 shares of the oil and natural gas company’s stock worth $387,000 after acquiring an additional 168 shares during the period. Intech Investment Management LLC increased its holdings in shares of Diamondback Energy by 49.8% in the first quarter. Intech Investment Management LLC now owns 15,618 shares of the oil and natural gas company’s stock valued at $3,095,000 after purchasing an additional 5,190 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its holdings in shares of Diamondback Energy by 39.3% during the first quarter. Ontario Teachers Pension Plan Board now owns 19,249 shares of the oil and natural gas company’s stock worth $3,815,000 after purchasing an additional 5,426 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on 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 sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $176.60 on Friday. The firm has a market cap of $51.57 billion, a PE ratio of 10.11, a P/E/G ratio of 1.30 and a beta of 1.89. 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 1-year low of $145.70 and a 1-year high of $214.50. The firm has a 50 day simple moving average of $181.16 and a 200-day simple moving average of $191.43.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the firm earned $5.49 EPS. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts expect that Diamondback Energy, Inc. will post 16.78 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Benchmark reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Piper Sandler lifted their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.64.

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.