Stonebrook Private Inc. Has $570,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Stonebrook Private Inc. trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,480 shares of the oil and natural gas company’s stock after selling 332 shares during the period. Stonebrook Private Inc.’s holdings in Diamondback Energy were worth $570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FANG. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Diamondback Energy by 8.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,172 shares of the oil and natural gas company’s stock worth $356,000 after acquiring an additional 167 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth about $312,000. Wedge Capital Management L L P NC lifted its holdings in shares of Diamondback Energy by 2.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 41,723 shares of the oil and natural gas company’s stock worth $6,835,000 after acquiring an additional 1,031 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of Diamondback Energy by 18.0% in the fourth quarter. Merit Financial Group LLC now owns 2,315 shares of the oil and natural gas company’s stock worth $379,000 after acquiring an additional 353 shares during the last quarter. Finally, Somerset Trust Co lifted its holdings in shares of Diamondback Energy by 11.8% in the fourth quarter. Somerset Trust Co now owns 4,772 shares of the oil and natural gas company’s stock worth $782,000 after acquiring an additional 504 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Susquehanna cut their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Barclays cut their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler cut their target price on shares of Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company cut their target price 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. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $194.09.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $141.13 on Friday. The company has a fifty day moving average of $141.25 and a 200-day moving average of $158.00. The firm has a market capitalization of $41.23 billion, a P/E ratio of 8.08, a P/E/G ratio of 1.24 and a beta of 1.06. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.50 EPS. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.83%. Diamondback Energy’s dividend payout ratio is currently 24.46%.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction on 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 sale, the president now owns 120,645 shares of the company’s stock, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

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.