Y Intercept Hong Kong Ltd Lowers Position in Diamondback Energy, Inc. $FANG

Y Intercept Hong Kong Ltd lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 77.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,367 shares of the oil and natural gas company’s stock after selling 4,578 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Diamondback Energy were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at about $25,000. JPL Wealth Management LLC purchased a new position in Diamondback Energy during the third quarter worth about $26,000. Richardson Financial Services Inc. grew its position in Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy in the 4th quarter worth about $26,000. Finally, Wellington Shields & Co. LLC increased its stake in Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on FANG. Wells Fargo & Company set a $212.00 target price on shares of Diamondback Energy in a research report on Monday, June 22nd. Citigroup increased their price target on Diamondback Energy from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Susquehanna lifted their price target on Diamondback Energy from $231.00 to $245.00 and gave the stock a “positive” rating in a report on Wednesday, May 6th. UBS Group boosted their price objective on Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $249.00 price objective on shares of Diamondback Energy in a research note on Wednesday, June 10th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $220.68.

Diamondback Energy Stock Down 0.5%

Diamondback Energy stock opened at $189.76 on Thursday. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The firm has a 50 day moving average price of $191.10 and a 200-day moving average price of $180.37. The company has a market capitalization of $53.38 billion, a P/E ratio of 220.65 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company 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 firm posted $4.54 EPS. Diamondback Energy’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Diamondback Energy, Inc. will post 19.17 EPS for the current year.

Diamondback Energy Increases Dividend

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

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the sale, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the company’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 transaction of $1,406,300.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 113,691 shares of company stock worth $21,622,752 over the last three months. Company insiders own 0.64% of the company’s stock.

About Diamondback Energy

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.