Inspire Investing LLC Sells 8,260 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Inspire Investing LLC reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,218 shares of the oil and natural gas company’s stock after selling 8,260 shares during the period. Diamondback Energy comprises 0.7% of Inspire Investing LLC’s holdings, making the stock its 23rd largest position. Inspire Investing LLC’s holdings in Diamondback Energy were worth $6,097,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FANG. UMB Bank n.a. increased its holdings in shares of 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 purchasing an additional 136 shares during the period. Values First Advisors Inc. bought a new position in Diamondback Energy in the third quarter valued at approximately $42,000. CVA Family Office LLC increased its stake in Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Diamondback Energy during the third quarter worth $52,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

FANG stock opened at $177.59 on Thursday. The stock has a market capitalization of $51.85 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The company’s 50-day moving average is $170.46 and its 200-day moving average is $182.51. 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, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted 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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the company earned $5.49 EPS. The company’s revenue was up 13.0% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 15.58 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Analyst Ratings Changes

FANG has been the topic of a number of research reports. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research note on Friday, January 3rd. Truist Financial boosted their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. Citigroup began coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. Finally, UBS Group cut their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $214.17.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy 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.