Oak Ridge Investments LLC Sells 629 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Oak Ridge Investments LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 23.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,102 shares of the oil and natural gas company’s stock after selling 629 shares during the period. Oak Ridge Investments LLC’s holdings in Diamondback Energy were worth $417,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC grew its position in Diamondback Energy by 1.8% during the 4th quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock worth $3,058,000 after acquiring an additional 354 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Diamondback Energy by 14.1% in the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after buying an additional 6,240 shares during the period. Raymond James Trust N.A. raised its holdings in Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after buying an additional 7,102 shares during the last quarter. Larson Financial Group LLC boosted its position in Diamondback Energy by 748.0% during the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock valued at $2,361,000 after buying an additional 13,426 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Diamondback Energy by 613.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after acquiring an additional 13,243 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Diamondback Energy Stock Down 1.6 %

Shares of NASDAQ FANG traded down $3.40 during trading on Friday, reaching $203.53. The company had a trading volume of 761,400 shares, compared to its average volume of 1,253,106. Diamondback Energy, Inc. has a 12-month low of $125.73 and a 12-month high of $211.96. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average is $196.74 and its 200 day moving average is $183.12. The stock has a market cap of $36.30 billion, a PE ratio of 11.47, a P/E/G ratio of 1.12 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. Diamondback Energy’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.10 EPS. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 19.06 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.77%. Diamondback Energy’s payout ratio is currently 20.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FANG shares. Mizuho increased their target price on shares of Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Barclays initiated coverage on Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 target price on the stock. Morgan Stanley dropped their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. KeyCorp began coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective on the stock. Finally, Susquehanna raised their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.35.

About Diamondback Energy

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.