Sovereign s Capital Management LLC Sells 5,311 Shares of Diamondback Energy, Inc. $FANG

Sovereign s Capital Management LLC reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 62.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,154 shares of the oil and natural gas company’s stock after selling 5,311 shares during the period. Sovereign s Capital Management LLC’s holdings in Diamondback Energy were worth $474,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Royal Bank of Canada lifted its holdings in Diamondback Energy by 8.5% in the fourth quarter. Royal Bank of Canada now owns 1,055,442 shares of the oil and natural gas company’s stock valued at $158,664,000 after buying an additional 83,067 shares during the period. Rakuten Investment Management Inc. lifted its holdings in Diamondback Energy by 33.5% in the fourth quarter. Rakuten Investment Management Inc. now owns 40,048 shares of the oil and natural gas company’s stock valued at $5,950,000 after buying an additional 10,057 shares during the period. Alberta Investment Management Corp acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $1,428,000. Capital Financial Group Inc. Co. ADV acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $528,000. Finally, Silvant Capital Management LLC lifted its holdings in Diamondback Energy by 1.6% in the fourth quarter. Silvant Capital Management LLC now owns 21,431 shares of the oil and natural gas company’s stock valued at $3,222,000 after buying an additional 344 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Scotiabank boosted their target price on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. KeyCorp boosted their target price on Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Benchmark lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Finally, UBS Group boosted their target price on Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $223.63.

Diamondback Energy Trading Down 1.0%

NASDAQ:FANG opened at $188.12 on Wednesday. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The stock has a market capitalization of $52.92 billion, a PE ratio of 218.75 and a beta of 0.42. The business’s 50-day simple moving average is $195.51 and its 200-day simple moving average is $176.13.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the business posted $4.54 EPS. Diamondback Energy’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $1.10 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. Diamondback Energy’s dividend payout ratio (DPR) is presently 511.63%.

Insiders Place Their Bets

In other news, Director Charles Alvin Meloy sold 7,857 shares of Diamondback Energy stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $189.20, for a total transaction of $1,486,544.40. Following the transaction, the director owned 942,721 shares in the company, valued at $178,362,813.20. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares in the company, valued at $17,228,179.50. The trade was a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 38,214 shares of company stock worth $7,553,002. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.