Diamondback Energy, Inc. $FANG Shares Sold by Savant Capital LLC

Savant Capital LLC cut its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 30.2% in the fourth quarter, Holdings Channel reports. The firm owned 9,551 shares of the oil and natural gas company’s stock after selling 4,134 shares during the period. Savant Capital LLC’s holdings in Diamondback Energy were worth $1,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. CFS Investment Advisory Services LLC boosted its position in shares of Diamondback Energy by 11.0% in the 4th quarter. CFS Investment Advisory Services LLC now owns 1,760 shares of the oil and natural gas company’s stock valued at $265,000 after purchasing an additional 174 shares during the period. Baker Avenue Asset Management LP boosted its position in shares of Diamondback Energy by 14.1% in the 4th quarter. Baker Avenue Asset Management LP now owns 61,726 shares of the oil and natural gas company’s stock valued at $9,279,000 after purchasing an additional 7,646 shares during the period. Huntington National Bank boosted its position in shares of Diamondback Energy by 10.3% in the 4th quarter. Huntington National Bank now owns 2,685 shares of the oil and natural gas company’s stock valued at $404,000 after purchasing an additional 250 shares during the period. Geode Capital Management LLC boosted its position in shares of Diamondback Energy by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after purchasing an additional 14,625 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in Diamondback Energy during the 4th quarter valued at approximately $207,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FANG has been the subject of several analyst reports. UBS Group upped their price objective on Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Mizuho upped their price objective on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Barclays upped their price objective on Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, TD Cowen raised Diamondback Energy to a “strong-buy” rating in a research note on Monday, February 9th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $223.26.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $199.03 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $195.45 and its two-hundred day moving average is $172.34. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $214.51. The stock has a market capitalization of $55.99 billion, a price-to-earnings ratio of 231.43 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the firm posted $4.54 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts expect that Diamondback Energy, Inc. will post 19.54 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a $1.10 dividend. The ex-dividend date was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is currently 511.63%.

Insiders Place Their Bets

In related news, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total value of $1,000,500.00. Following the sale, the executive vice president owned 51,392 shares in the company, valued at $10,283,539.20. This represents a 8.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven E. West sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total value of $1,130,100.00. Following the completion of the sale, the director owned 4,484 shares in the company, valued at approximately $844,561.40. This represents a 57.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 174,321 shares of company stock worth $32,090,475. 0.64% of the stock is owned by insiders.

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.