Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,275 shares of the oil and natural gas company’s stock after selling 626 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Diamondback Energy were worth $811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FANG. BKM Wealth Management LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth $27,000. BluePath Capital Management LLC acquired a new position in shares of Diamondback Energy during the third quarter worth $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth $34,000. CVA Family Office LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after purchasing an additional 218 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,675 shares of company stock worth $11,311,096. Insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Performance

FANG stock traded up $1.54 during trading on Tuesday, hitting $204.12. 450,667 shares of the company’s stock traded hands, compared to its average volume of 1,738,894. The stock has a fifty day moving average price of $190.63 and a two-hundred day moving average price of $168.24. The stock has a market capitalization of $36.40 billion, a price-to-earnings ratio of 11.75 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.29 earnings per share. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 18.53 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a dividend yield of 6.04%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is currently 20.76%.

Wall Street Analyst Weigh In

FANG has been the topic of a number of recent research reports. Susquehanna boosted their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday. KeyCorp lifted their price target on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday. Scotiabank lifted their price target on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. UBS Group lifted their price target on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley dropped their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

Diamondback Energy 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.