Diamondback Energy, Inc. $FANG Shares Sold by Spirepoint Private Client LLC

Spirepoint Private Client LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 86.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,456 shares of the oil and natural gas company’s stock after selling 29,689 shares during the period. Spirepoint Private Client LLC’s holdings in Diamondback Energy were worth $638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FANG. AQR Capital Management LLC raised its position in shares of Diamondback Energy by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 52,707 shares of the oil and natural gas company’s stock worth $8,427,000 after buying an additional 7,956 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Diamondback Energy by 6.2% in the 1st quarter. Alliancebernstein L.P. now owns 246,356 shares of the oil and natural gas company’s stock valued at $39,387,000 after purchasing an additional 14,377 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Diamondback Energy by 9.5% during the 1st quarter. NewEdge Advisors LLC now owns 40,877 shares of the oil and natural gas company’s stock worth $6,535,000 after purchasing an additional 3,530 shares during the period. Petrus Trust Company LTA acquired a new stake in Diamondback Energy during the 1st quarter worth approximately $383,000. Finally, UniSuper Management Pty Ltd increased its position in shares of Diamondback Energy by 5.0% in the first quarter. UniSuper Management Pty Ltd now owns 19,258 shares of the oil and natural gas company’s stock worth $3,079,000 after acquiring an additional 925 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Charles Alvin Meloy sold 377,911 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $146.99 on Tuesday. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $180.91. The company has a market cap of $42.10 billion, a P/E ratio of 10.21 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The stock’s 50-day simple moving average is $149.13 and its 200 day simple moving average is $144.87.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. Diamondback Energy’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.19 EPS. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Diamondback Energy’s payout ratio is presently 27.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FANG shares. Morgan Stanley reiterated an “overweight” rating and issued a $183.00 price target on shares of Diamondback Energy in a report on Thursday, November 20th. Mizuho set a $194.00 price target on shares of Diamondback Energy in a research report on Friday, December 12th. Susquehanna lowered their price objective on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a report on Thursday, October 9th. Finally, Barclays lowered their target price on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $188.76.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.