E Fund Management Co. Ltd. Sells 184 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

E Fund Management Co. Ltd. decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,783 shares of the oil and natural gas company’s stock after selling 184 shares during the period. E Fund Management Co. Ltd.’s holdings in Diamondback Energy were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BKM Wealth Management LLC purchased a new position in Diamondback Energy during the fourth quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in Diamondback Energy during the fourth quarter valued at $34,000. CVA Family Office LLC purchased a new position in Diamondback Energy during the fourth quarter valued at $35,000. Cary Street Partners Investment Advisory LLC lifted its position in 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 valued at $40,000 after purchasing an additional 218 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Diamondback Energy by 37.3% during the fourth 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 in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.2 %

FANG stock traded up $0.50 during trading on Thursday, reaching $203.72. 1,032,896 shares of the stock were exchanged, compared to its average volume of 1,728,650. The business has a 50 day moving average price of $196.55 and a 200-day moving average price of $171.35. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $36.33 billion, a price-to-earnings ratio of 11.50 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.10 EPS. On average, research analysts predict that Diamondback Energy, Inc. will post 18.91 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.77%. Diamondback Energy’s payout ratio is presently 20.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $129.00 to $170.00 in a research note on Monday, February 12th. Raymond James dropped their target price on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Truist Financial boosted their target price on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Piper Sandler boosted their target price on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, BMO Capital Markets upped their target price on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.68.

Insider Activity at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the sale, the chief operating officer now owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,575 shares of company stock worth $11,491,006. 0.43% of the stock is currently owned by company insiders.

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.