Atria Investments Inc Cuts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Atria Investments Inc decreased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 18.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,602 shares of the oil and natural gas company’s stock after selling 8,076 shares during the quarter. Atria Investments Inc’s holdings in Diamondback Energy were worth $5,669,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FANG. Farther Finance Advisors LLC increased its holdings in Diamondback Energy by 136.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,822 shares of the oil and natural gas company’s stock worth $314,000 after purchasing an additional 1,052 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Diamondback Energy by 5.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 33,064 shares of the oil and natural gas company’s stock worth $5,700,000 after purchasing an additional 1,752 shares during the period. QRG Capital Management Inc. increased its holdings in Diamondback Energy by 14.2% during the 3rd quarter. QRG Capital Management Inc. now owns 8,437 shares of the oil and natural gas company’s stock worth $1,455,000 after purchasing an additional 1,048 shares during the period. Crescent Grove Advisors LLC increased its holdings in Diamondback Energy by 34.4% during the 3rd quarter. Crescent Grove Advisors LLC now owns 1,405 shares of the oil and natural gas company’s stock worth $242,000 after purchasing an additional 360 shares during the period. Finally, Foster & Motley Inc. increased its holdings in Diamondback Energy by 6.6% during the 3rd quarter. Foster & Motley Inc. now owns 6,688 shares of the oil and natural gas company’s stock worth $1,153,000 after purchasing an additional 415 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FANG. Mizuho upped their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, UBS Group upped their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.09.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Down 2.0 %

Diamondback Energy stock opened at $139.90 on Friday. Diamondback Energy, Inc. has a twelve month low of $138.94 and a twelve month high of $214.50. The stock has a 50 day moving average of $164.34 and a two-hundred day moving average of $173.89. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $40.49 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.55 billion. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. Diamondback Energy’s dividend payout ratio is 25.32%.

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.