Deroy & Devereaux Private Investment Counsel Inc. reduced its position in Diamondback Energy, Inc. (NASDAQ: FANG – Get Rating ) by 18.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,745 shares of the oil and natural gas company’s stock after selling 6,321 shares during the quarter. The holdings of Deroy & Devereaux Private Investment Counsel Inc. in Diamondback Energy were worth $3,795,000 at the end of the most recent quarter.
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A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Atlas Private Wealth Advisors boosted its holdings in shares of Diamondback Energy by 6.2% in the second quarter. Atlas Private Wealth Advisors now owns 7,229 shares of the oil and natural gas company’s stock worth $876,000 after acquiring an additional 423 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Diamondback Energy by 2.3% in the third quarter. The Manufacturers Life Insurance Company now owns 170,474 shares of the oil and natural gas company’s stock worth $20,535,000 after acquiring an additional 3,877 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Diamondback Energy by 1.4% during the third quarter. Daiwa Securities Group Inc. now owns 14,867 shares of the oil and natural gas company’s stock valued at $1,791,000 after buying an additional 201 shares during the period. Symmetry Partners LLC boosted its position in shares of Diamondback Energy by 13.1% in the third quarter. Symmetry Partners LLC now owns 9,456 shares of the oil and natural gas company’s stock valued at $1,139,000 after buying an additional 1,098 shares during the period. Finally, First Republic Investment Management Inc. increased its position in shares of Diamondback Energy by 12.0% in the second quarter. First Republic Investment Management Inc. now owns 702,275 shares of the oil and natural gas company’s stock valued at $85,081,000 after purchasing an additional 75,060 shares during the period. Institutional investors own 89.76% of the company’s shares.
Changes in analyst ratings
A number of research firms recently weighed in on FANG. Raymond James reduced their target price on shares of Diamondback Energy from $205.00 to $165.00 in a research report on Monday, March 27th. Roth Capital restated a “buy” rating on shares of Diamondback Energy in a research note on Wednesday, February 22nd. Johnson Rice upgraded Diamondback Energy from an “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Monday, December 5th. Morgan Stanley reduced their target price on Diamondback Energy from $168.00 to $158.00 and set an “overweight” rating on the stock in a research note on Monday, March 27th. Finally, Piper Sandler decreased their price objective on shares of Diamondback Energy from $214.00 to $207.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Moderate Buy” and an average target price of $178.00, according to MarketBeat.com .
Diamondback Energy Price Performance
NASDAQ:FANG traded up $8.58 during trading hours on Monday, reaching $143.75. 2,419,526 shares traded at hands, compared to its average volume of 2,409,482. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.40. Diamondback Energy, Inc. has a 1-year low of $103.71 and a 1-year high of $168.95. The company has a market cap of $26.39 billion, a price-to-earnings ratio of 5.84, a price-to-earnings-growth ratio of 0.29 and a beta of 2.03. The stock has a 50-day moving average of $138.78 and a 200-day moving average of $141.08.
Diamondback Energy (NASDAQ: FANG – Get Rating ) last posted its quarterly earnings results on Tuesday, February 21st. The oil and natural gas company reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.20 by $0.09. Diamondback Energy had a net margin of 45.48% and a return on equity of 29.29%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.09 billion. In the same quarter last year, the firm earned $3.63 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts predict that Diamondback Energy, Inc. will post 20.92 EPS for the current fiscal year.
Diamondback Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, March 3rd were given a $2.95 dividend. The ex-dividend date was Thursday, March 2nd. This represents an $11.80 annual dividend and a dividend yield of 8.21%. Diamondback Energy’s payout ratio is 12.99%.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of onshore unconventional oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on operations in the Permian Basin in West Texas.
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