Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Montgomery Investment Management Inc.

Montgomery Investment Management Inc. trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,132 shares of the oil and natural gas company’s stock after selling 200 shares during the quarter. Diamondback Energy makes up 2.8% of Montgomery Investment Management Inc.’s portfolio, making the stock its 10th biggest position. Montgomery Investment Management Inc.’s holdings in Diamondback Energy were worth $7,230,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Diamondback Energy during the fourth quarter worth about $29,000. UMB Bank n.a. boosted its holdings in 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 buying an additional 136 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Diamondback Energy during the 3rd quarter valued at about $42,000. CVA Family Office LLC lifted its holdings in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy during the 3rd quarter valued at about $52,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

FANG opened at $166.30 on Wednesday. The business has a fifty day simple moving average of $168.68 and a 200 day simple moving average of $180.27. The company has a market capitalization of $48.56 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 1.28 and a beta of 1.86. Diamondback Energy, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50. 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 (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). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.49 earnings per share. Research analysts expect that Diamondback Energy, Inc. will post 15.5 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.16%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Analysts Set New Price Targets

FANG has been the topic of several recent analyst reports. Scotiabank cut their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Benchmark reiterated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted 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. Truist Financial lifted their target price on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $215.00.

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.