Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC lowered its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,351 shares of the oil and natural gas company’s stock after selling 183 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Diamondback Energy were worth $3,498,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after acquiring an additional 7,694 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Diamondback Energy in the 4th quarter valued at $1,053,000. Geode Capital Management LLC lifted its holdings in Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares in the last quarter. Finally, Atria Investments Inc grew its holdings in shares of Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after buying an additional 6,672 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on FANG. Scotiabank decreased 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 research note on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. KeyCorp lowered their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Finally, Mizuho lowered their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.08.

Diamondback Energy Stock Down 0.2 %

Shares of NASDAQ:FANG opened at $179.12 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $170.68 and its 200-day simple moving average is $183.43. The company has a market cap of $52.30 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data 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). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.49 EPS. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 16.08 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.