Corient Private Wealth LLC Sells 407 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Corient Private Wealth LLC decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,158 shares of the oil and natural gas company’s stock after selling 407 shares during the quarter. Corient Private Wealth LLC’s holdings in Diamondback Energy were worth $3,466,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Lakewood Asset Management LLC lifted its position in Diamondback Energy by 0.5% in the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after acquiring an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC increased its stake in Diamondback Energy by 2.0% in the 4th 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 last quarter. Barden Capital Management Inc. increased its stake in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock valued at $718,000 after buying an additional 64 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock valued at $482,000 after buying an additional 65 shares during the last quarter. Finally, Greenleaf Trust increased its stake in Diamondback Energy by 1.0% in the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after buying an additional 66 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 0.0 %

Shares of NASDAQ:FANG opened at $158.50 on Friday. The firm has a fifty day moving average price of $160.47 and a two-hundred day moving average price of $170.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50. The company has a market cap of $45.88 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.52%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

Wall Street Analyst Weigh In

Several research firms have commented on FANG. Citigroup decreased their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. UBS Group raised their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays decreased their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Morgan Stanley raised their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.92.

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.