AlphaQuest LLC Sells 2,100 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

AlphaQuest LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 45.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,505 shares of the oil and natural gas company’s stock after selling 2,100 shares during the period. AlphaQuest LLC’s holdings in Diamondback Energy were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. R Squared Ltd purchased a new position in Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. increased its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares during the period. Key Financial Inc increased its holdings in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the period. Smithfield Trust Co raised its position in shares of Diamondback Energy by 37.8% in the 4th quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 85 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy during the 3rd quarter worth $52,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $145.80 on Friday. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market cap of $42.20 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 1.24 and a beta of 1.84. The business has a 50-day simple moving average of $162.41 and a 200-day simple moving average of $172.18.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. On average, equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.74%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 25.32%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Raymond James cut their target price on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. UBS Group lifted their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price objective on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $211.92.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy 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.