Stephens Investment Management Group LLC Sells 43,585 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Stephens Investment Management Group LLC cut its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 19.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 176,314 shares of the oil and natural gas company’s stock after selling 43,585 shares during the period. Stephens Investment Management Group LLC’s holdings in Diamondback Energy were worth $28,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Advocates Investment Management grew its stake in Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after acquiring an additional 55 shares during the period. Greenup Street Wealth Management LLC increased its stake in Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after purchasing an additional 60 shares in the last quarter. Lakewood Asset Management LLC raised its holdings in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after buying an additional 60 shares during the period. West Family Investments Inc. lifted its stake in Diamondback Energy by 3.4% in the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 61 shares in the last quarter. Finally, Magnolia Capital Advisors LLC boosted its holdings in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

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 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 $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group dropped their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. KeyCorp reduced their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Raymond James lifted their target price on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Truist Financial upped their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Four 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Stock Down 1.2 %

Shares of FANG opened at $158.13 on Monday. The firm has a market cap of $46.17 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52 week low of $151.25 and a 52 week high of $214.50. The firm’s 50-day simple moving average is $167.54 and its 200 day simple moving average is $179.30.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.28%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

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.