Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by IHT Wealth Management LLC

IHT Wealth Management LLC reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,896 shares of the oil and natural gas company’s stock after selling 347 shares during the period. IHT Wealth Management LLC’s holdings in Diamondback Energy were worth $311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy in the 4th quarter worth approximately $28,000. R Squared Ltd bought a new stake in Diamondback Energy during the fourth quarter worth approximately $29,000. UMB Bank n.a. grew its position in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Key Financial Inc grew its position in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the last quarter. Finally, Transce3nd LLC bought a new position in shares of Diamondback Energy in the fourth quarter valued at $38,000. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FANG. JPMorgan Chase & Co. decreased their target price on Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company dropped their price target on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Truist Financial upped their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. KeyCorp dropped their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, Citigroup upgraded shares of Diamondback Energy from a “reduce” rating to a “buy” rating and upped their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.96.

Diamondback Energy Trading Up 0.4 %

Shares of NASDAQ FANG opened at $136.76 on Monday. The stock has a market cap of $40.22 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 1.24 and a beta of 1.44. The business has a 50 day simple moving average of $145.04 and a 200 day simple moving average of $162.57. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. 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 (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. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.92%. Diamondback Energy’s payout ratio is presently 25.32%.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares of the company’s stock, valued at $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 is accessible through this hyperlink. 0.48% of the stock is currently owned by company insiders.

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.