HM Payson & Co. Has $398,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

HM Payson & Co. decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,227 shares of the oil and natural gas company’s stock after selling 212 shares during the quarter. HM Payson & Co.’s holdings in Diamondback Energy were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Childress Capital Advisors LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at $445,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Diamondback Energy during the 4th quarter worth about $2,965,000. Rockbridge Investment Management LCC lifted its holdings in Diamondback Energy by 84.7% during the 4th quarter. Rockbridge Investment Management LCC now owns 1,317 shares of the oil and natural gas company’s stock worth $64,000 after buying an additional 604 shares during the period. Alyeska Investment Group L.P. acquired a new position in Diamondback Energy during the 4th quarter worth about $7,295,000. Finally, Laffer Tengler Investments acquired a new position in Diamondback Energy during the 4th quarter worth about $92,000. 92.14% of the stock is currently owned by institutional investors.

Shares of NASDAQ FANG opened at $76.31 on Thursday. The stock has a fifty day simple moving average of $75.87 and a two-hundred day simple moving average of $51.95. Diamondback Energy, Inc. has a 1-year low of $23.63 and a 1-year high of $88.75. The firm has a market cap of $12.06 billion, a price-to-earnings ratio of -2.83, a price-to-earnings-growth ratio of 0.59 and a beta of 2.59. The company has a current ratio of 0.45, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Sunday, February 21st. The oil and natural gas company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. Diamondback Energy had a positive return on equity of 5.10% and a negative net margin of 135.48%. The business had revenue of $769.00 million during the quarter, compared to analyst estimates of $768.65 million. During the same period in the prior year, the company earned $1.93 earnings per share. Diamondback Energy’s revenue was down 30.3% compared to the same quarter last year. Analysts forecast that Diamondback Energy, Inc. will post 3.06 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 11th. Stockholders of record on Thursday, March 4th were issued a $0.40 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Wednesday, March 3rd. Diamondback Energy’s dividend payout ratio (DPR) is presently 23.09%.

In related news, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the stock in a transaction on Friday, March 19th. The stock was sold at an average price of $77.24, for a total value of $146,756.00. Following the sale, the chief financial officer now owns 67,043 shares in the company, valued at $5,178,401.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by company insiders.

FANG has been the topic of several recent research reports. Cowen lifted their target price on Diamondback Energy from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, January 20th. Northland Securities boosted their price objective on Diamondback Energy from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, December 28th. Truist Financial upped their price target on Diamondback Energy from $80.00 to $105.00 in a research note on Monday, March 8th. Citigroup upped their price target on Diamondback Energy from $82.00 to $100.00 in a research note on Tuesday, March 23rd. Finally, TD Securities upped their price target on Diamondback Energy from $67.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, February 23rd. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $71.39.

About Diamondback Energy

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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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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