Livforsakringsbolaget Skandia Omsesidigt Sells 5,200 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 83.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,000 shares of the oil and natural gas company’s stock after selling 5,200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Diamondback Energy were worth $164,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Czech National Bank grew its position in Diamondback Energy by 12.3% during the third quarter. Czech National Bank now owns 38,166 shares of the oil and natural gas company’s stock valued at $6,580,000 after buying an additional 4,180 shares during the period. Hexagon Capital Partners LLC boosted its stake in Diamondback Energy by 29.5% in the third quarter. Hexagon Capital Partners LLC now owns 649 shares of the oil and natural gas company’s stock valued at $112,000 after acquiring an additional 148 shares during the last quarter. Wedmont Private Capital grew its position in shares of Diamondback Energy by 2.9% during the 3rd quarter. Wedmont Private Capital now owns 3,300 shares of the oil and natural gas company’s stock valued at $569,000 after acquiring an additional 94 shares during the period. Independence Bank of Kentucky increased its stake in shares of Diamondback Energy by 43.9% during the 3rd quarter. Independence Bank of Kentucky now owns 3,705 shares of the oil and natural gas company’s stock worth $639,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Diamondback Energy by 13.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the oil and natural gas company’s stock worth $474,000 after purchasing an additional 326 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FANG. Piper Sandler decreased their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Truist Financial increased their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Finally, Benchmark reissued a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $158.13 on Friday. The stock has a market cap of $46.17 billion, a P/E ratio of 9.05, a PEG ratio of 1.28 and a beta of 1.86. 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 business’s 50-day moving average price is $167.93 and its two-hundred day moving average price is $179.75. Diamondback Energy, Inc. has a twelve month low of $151.25 and a twelve month high of $214.50.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.28%. Diamondback Energy’s payout ratio is presently 20.61%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy 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 owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.48% of the company’s stock.

About Diamondback Energy

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.