Point72 Hong Kong Ltd lowered its stake in Diamondback Energy Inc (NASDAQ:FANG) by 32.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,012 shares of the oil and natural gas company’s stock after selling 1,463 shares during the period. Point72 Hong Kong Ltd’s holdings in Diamondback Energy were worth $280,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its holdings in Diamondback Energy by 1,465.1% in the fourth quarter. Captrust Financial Advisors now owns 9,453 shares of the oil and natural gas company’s stock worth $876,000 after purchasing an additional 8,849 shares during the period. Orion Portfolio Solutions LLC bought a new position in shares of Diamondback Energy in the 4th quarter worth about $75,000. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Diamondback Energy by 28.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 20,900 shares of the oil and natural gas company’s stock worth $1,941,000 after buying an additional 4,600 shares during the last quarter. SRB Corp lifted its position in shares of Diamondback Energy by 50.1% in the 4th quarter. SRB Corp now owns 6,920 shares of the oil and natural gas company’s stock worth $642,000 after buying an additional 2,310 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of Diamondback Energy by 17.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,830 shares of the oil and natural gas company’s stock valued at $449,000 after buying an additional 730 shares during the period. 96.90% of the stock is owned by institutional investors.
In other news, CEO Travis D. Stice bought 17,146 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average cost of $28.40 per share, with a total value of $486,946.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hof Matthew Kaes Van’t purchased 4,750 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was acquired at an average price of $17.23 per share, for a total transaction of $81,842.50. Following the completion of the transaction, the chief financial officer now owns 52,130 shares of the company’s stock, valued at approximately $898,199.90. The disclosure for this purchase can be found here. 0.47% of the stock is owned by insiders.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 18th. The oil and natural gas company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.13. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Diamondback Energy had a net margin of 6.05% and a return on equity of 7.00%. The business’s revenue for the quarter was up 74.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. Research analysts predict that Diamondback Energy Inc will post 6.19 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, March 3rd were issued a dividend of $0.375 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.50 annualized dividend and a yield of 5.78%. Diamondback Energy’s payout ratio is presently 21.65%.
FANG has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of Diamondback Energy from $135.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 10th. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Monday, January 27th. TD Securities lowered their target price on Diamondback Energy from $67.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 20th. SunTrust Banks cut Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, KeyCorp dropped their price target on Diamondback Energy from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $104.08.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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