Riverwater Partners LLC Sells 408 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Riverwater Partners LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 22.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,402 shares of the oil and natural gas company’s stock after selling 408 shares during the quarter. Riverwater Partners LLC’s holdings in Diamondback Energy were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Lakewood Asset Management LLC raised its stake in Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC raised its position in shares of Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after buying an additional 64 shares in the last quarter. Barden Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock valued at $718,000 after acquiring an additional 64 shares during the last quarter. Greenleaf Trust grew its position in Diamondback Energy by 1.0% in the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after acquiring an additional 66 shares in the last quarter. Finally, Buckhead Capital Management LLC increased its stake in Diamondback Energy by 0.3% during the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock worth $3,249,000 after acquiring an additional 67 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 12.7 %

Shares of NASDAQ:FANG opened at $123.37 on Friday. The company has a market capitalization of $35.71 billion, a PE ratio of 7.06, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $123.15 and a 12-month high of $214.50. The business’s fifty day simple moving average is $155.91 and its 200-day simple moving average is $168.89.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.24%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Citigroup lowered their target price on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Mizuho increased their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.33.

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.