SG Americas Securities LLC Reduces Stock Position in Diamondback Energy, Inc. $FANG

SG Americas Securities LLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 16.9% in the first quarter, HoldingsChannel.com reports. The fund owned 134,436 shares of the oil and natural gas company’s stock after selling 27,275 shares during the period. SG Americas Securities LLC’s holdings in Diamondback Energy were worth $26,590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in FANG. Flagship Harbor Advisors LLC bought a new position in Diamondback Energy during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. boosted its holdings in Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy in the 4th quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in Diamondback Energy during the 3rd quarter valued at $26,000. Finally, Wellington Shields & Co. LLC raised its stake in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 135 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 2.4%

Shares of Diamondback Energy stock opened at $183.48 on Thursday. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The company’s fifty day simple moving average is $194.95 and its 200-day simple moving average is $177.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The stock has a market capitalization of $51.61 billion, a PE ratio of 213.35 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 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 firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the business posted $4.54 EPS. Diamondback Energy’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 19.92 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a dividend of $1.10 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is presently 511.63%.

Insider Buying and Selling

In other news, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the transaction, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at $17,228,179.50. The trade was a 7.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 121,548 shares of company stock worth $23,146,460. Corporate insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FANG shares. Citigroup raised their price target on Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Wells Fargo & Company set a $212.00 price objective on Diamondback Energy in a research report on Monday. Truist Financial set a $242.00 target price on Diamondback Energy in a report on Wednesday, May 6th. Roth Mkm set a $212.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research note on Wednesday, May 27th. Five analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $221.37.

Diamondback Energy 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.