Steel Grove Capital Advisors LLC Has $346,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Steel Grove Capital Advisors LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 77.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,110 shares of the oil and natural gas company’s stock after selling 7,201 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Diamondback Energy were worth $346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Diamondback Energy during the 3rd quarter worth about $1,215,000. Fulcrum Equity Management bought a new position in Diamondback Energy during the third quarter worth about $206,000. Pine Valley Investments Ltd Liability Co boosted its holdings in Diamondback Energy by 11.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company’s stock valued at $349,000 after purchasing an additional 205 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $3,935,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Diamondback Energy in the 3rd quarter worth approximately $138,000. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 3.8 %

NASDAQ:FANG opened at $132.35 on Tuesday. The firm has a market capitalization of $38.92 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The business’s 50-day moving average price is $146.67 and its two-hundred day moving average price is $164.21. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its 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. On average, equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.02%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is presently 25.32%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wolfe Research upgraded 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. Mizuho increased their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Barclays cut their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. UBS Group decreased their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Raymond James cut their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $204.29.

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.