Beddow Capital Management Inc. Sells 200 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Beddow Capital Management Inc. lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,355 shares of the oil and natural gas company’s stock after selling 200 shares during the period. Beddow Capital Management Inc.’s holdings in Diamondback Energy were worth $1,860,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its holdings in shares of Diamondback Energy by 2.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 23,098 shares of the oil and natural gas company’s stock valued at $3,982,000 after purchasing an additional 588 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Diamondback Energy by 56.9% in the 3rd quarter. Prospera Financial Services Inc now owns 4,553 shares of the oil and natural gas company’s stock valued at $786,000 after purchasing an additional 1,651 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at $105,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at $585,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Diamondback Energy by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 46,474 shares of the oil and natural gas company’s stock valued at $8,012,000 after purchasing an additional 821 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Piper Sandler cut their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. The Goldman Sachs Group began coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. UBS Group raised their price objective on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.92.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $158.50 on Friday. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50. The firm has a market capitalization of $45.88 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85. The business has a 50-day simple moving average of $160.47 and a 200 day simple moving average of $170.51. 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 issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.52%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is 25.32%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

About Diamondback Energy

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.