Schear Investment Advisers LLC Lowers Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Schear Investment Advisers LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 54.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,118 shares of the oil and natural gas company’s stock after selling 8,569 shares during the period. Schear Investment Advisers LLC’s holdings in Diamondback Energy were worth $1,166,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FANG. Assenagon Asset Management S.A. boosted its holdings in shares of Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after purchasing an additional 1,042,505 shares during the last quarter. Zimmer Partners LP acquired a new position in Diamondback Energy in the third quarter valued at $87,924,000. Holocene Advisors LP grew its position in Diamondback Energy by 95.3% during the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after acquiring an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Diamondback Energy by 17,151.2% in the 3rd quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after purchasing an additional 338,050 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Raymond James raised their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Trading Up 0.2 %

NASDAQ FANG opened at $162.01 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a one year low of $152.00 and a one year high of $214.50. The company has a 50-day simple moving average of $167.26 and a 200-day simple moving average of $178.89. The firm has a market capitalization of $47.31 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

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.