Palo Duro Investment Partners LP Trims Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Palo Duro Investment Partners LP trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,177 shares of the oil and natural gas company’s stock after selling 17,139 shares during the quarter. Diamondback Energy accounts for about 8.1% of Palo Duro Investment Partners LP’s portfolio, making the stock its 5th largest position. Palo Duro Investment Partners LP’s holdings in Diamondback Energy were worth $27,552,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FANG. Wealth Enhancement Advisory Services LLC grew its holdings in Diamondback Energy by 4.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,608 shares of the oil and natural gas company’s stock worth $2,863,000 after acquiring an additional 637 shares during the last quarter. Czech National Bank grew its holdings in Diamondback Energy by 6.2% during the 4th quarter. Czech National Bank now owns 40,518 shares of the oil and natural gas company’s stock worth $6,638,000 after acquiring an additional 2,352 shares during the last quarter. Fragasso Financial Advisors Inc lifted its position in shares of Diamondback Energy by 3.8% in the 4th quarter. Fragasso Financial Advisors Inc now owns 1,928 shares of the oil and natural gas company’s stock worth $316,000 after purchasing an additional 70 shares during the period. Pallas Capital Advisors LLC lifted its position in shares of Diamondback Energy by 1.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 12,576 shares of the oil and natural gas company’s stock worth $2,060,000 after purchasing an additional 208 shares during the period. Finally, Signal Advisors Wealth LLC lifted its position in shares of Diamondback Energy by 78.6% in the 4th quarter. Signal Advisors Wealth LLC now owns 16,839 shares of the oil and natural gas company’s stock worth $2,759,000 after purchasing an additional 7,412 shares during the period. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 5th. Mizuho dropped their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a research report on Tuesday. Truist Financial boosted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Scotiabank dropped their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $194.09.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Trading Up 2.3%

Shares of FANG opened at $146.17 on Wednesday. The firm’s 50 day simple moving average is $141.19 and its 200 day simple moving average is $158.71. The company has a market capitalization of $42.71 billion, a P/E ratio of 8.37, a P/E/G ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (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 firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter last year, the business earned $4.50 earnings per share. The business’s revenue was up 81.8% on a year-over-year basis. Sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is currently 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.