Hennion & Walsh Asset Management Inc. Decreases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Hennion & Walsh Asset Management Inc. lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,217 shares of the oil and natural gas company’s stock after selling 335 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Diamondback Energy were worth $1,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Barden Capital Management Inc. increased its holdings 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 worth $718,000 after buying an additional 64 shares during the period. Buckhead Capital Management LLC increased its holdings in Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock worth $3,249,000 after buying an additional 67 shares during the period. Private Trust Co. NA increased its holdings in Diamondback Energy by 4.8% in the 4th quarter. Private Trust Co. NA now owns 1,516 shares of the oil and natural gas company’s stock worth $248,000 after buying an additional 69 shares during the period. Gladstone Institutional Advisory LLC increased its holdings in Diamondback Energy by 1.9% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,923 shares of the oil and natural gas company’s stock worth $643,000 after buying an additional 74 shares during the period. Finally, JBR Co Financial Management Inc increased its holdings in Diamondback Energy by 4.1% in the 4th quarter. JBR Co Financial Management Inc now owns 2,023 shares of the oil and natural gas company’s stock worth $331,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FANG. Piper Sandler dropped their price objective on shares of Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Susquehanna dropped their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their price objective on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Mizuho dropped their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $193.09.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president now directly owns 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Diamondback Energy Stock Up 2.3%

FANG stock opened at $140.56 on Friday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The stock has a market capitalization of $41.07 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a fifty day moving average of $135.58 and a 200-day moving average of $153.79.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter last year, the business earned $4.50 EPS. The business’s revenue was up 81.8% on a year-over-year basis. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is 24.46%.

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.