Institute for Wealth Management LLC. Lowers Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Institute for Wealth Management LLC. lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,234 shares of the oil and natural gas company’s stock after selling 200 shares during the period. Institute for Wealth Management LLC.’s holdings in Diamondback Energy were worth $694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. increased its position in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy during the third quarter worth $42,000. CVA Family Office LLC increased its position in shares of Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy during the third quarter worth $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of several research reports. KeyCorp cut their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. Susquehanna cut their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company upped their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Trading Down 3.6 %

Shares of Diamondback Energy stock opened at $164.36 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $169.40 and its 200 day moving average price is $181.33. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50. The firm has a market capitalization of $47.99 billion, a PE ratio of 9.41, a P/E/G ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business earned $5.49 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.55 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s 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 in the company, valued at $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.48% of the company’s stock.

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.