BLB&B Advisors LLC Lowers Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

BLB&B Advisors LLC cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 24.3% in the fourth quarter, HoldingsChannel reports. The fund owned 21,375 shares of the oil and natural gas company’s stock after selling 6,864 shares during the period. BLB&B Advisors LLC’s holdings in Diamondback Energy were worth $3,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Swedbank AB boosted its stake in Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after purchasing an additional 43,361 shares during the period. Franklin Resources Inc. boosted its position in shares of Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after acquiring an additional 47,951 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after acquiring an additional 37,246 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after acquiring an additional 7,694 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Diamondback Energy in the 4th quarter worth $1,053,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of several research reports. Susquehanna reduced their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. The Goldman Sachs Group started coverage on Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. Wells Fargo & Company increased their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Mizuho reduced their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, UBS Group lowered their price objective 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. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $158.13 on Friday. Diamondback Energy, Inc. has a twelve month low of $151.25 and a twelve month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $46.17 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.28 and a beta of 1.86. The company’s 50 day moving average is $167.93 and its 200 day moving average is $179.75.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.28%. Diamondback Energy’s payout ratio is currently 20.61%.

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.