Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 19.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,632 shares of the oil and natural gas company’s stock after selling 2,346 shares during the period. Cullen Investment Group LTD.’s holdings in Diamondback Energy were worth $1,578,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FANG. Pallas Capital Advisors LLC grew its holdings in shares of Diamondback Energy by 1.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 12,576 shares of the oil and natural gas company’s stock worth $2,060,000 after buying an additional 208 shares in the last quarter. Fulcrum Capital LLC boosted its holdings in shares of Diamondback Energy by 1.2% during the fourth quarter. Fulcrum Capital LLC now owns 28,558 shares of the oil and natural gas company’s stock worth $4,679,000 after purchasing an additional 332 shares during the last quarter. Moody National Bank Trust Division increased its stake in Diamondback Energy by 50.6% in the fourth quarter. Moody National Bank Trust Division now owns 30,120 shares of the oil and natural gas company’s stock valued at $4,935,000 after purchasing an additional 10,120 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Diamondback Energy by 0.6% during the 4th quarter. Salem Investment Counselors Inc. now owns 21,892 shares of the oil and natural gas company’s stock worth $3,587,000 after acquiring an additional 120 shares during the period. Finally, Fragasso Financial Advisors Inc grew its holdings in Diamondback Energy by 3.8% in the fourth quarter. Fragasso Financial Advisors Inc now owns 1,928 shares of the oil and natural gas company’s stock valued at $316,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the topic of several research reports. Scotiabank cut their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research report on Friday, January 3rd. KeyCorp reduced their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Citigroup began coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.08.

Diamondback Energy Stock Performance

Shares of FANG opened at $177.61 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a 50 day moving average price of $170.72 and a two-hundred day moving average price of $183.62. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The firm has a market capitalization of $51.86 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.19 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.49 earnings per share. Equities analysts forecast that Diamondback Energy, Inc. will post 16.51 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

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

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

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.