Foster & Motley Inc. Sells 89 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Foster & Motley Inc. cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,317 shares of the oil and natural gas company’s stock after selling 89 shares during the quarter. Foster & Motley Inc.’s holdings in Diamondback Energy were worth $980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Diamondback Energy during the 3rd quarter worth about $257,000. Vontobel Holding Ltd. bought a new stake in Diamondback Energy in the third quarter valued at approximately $928,000. HB Wealth Management LLC acquired a new stake in Diamondback Energy in the third quarter worth $324,000. CreativeOne Wealth LLC bought a new position in shares of Diamondback Energy during the third quarter worth $247,000. Finally, Riverwater Partners LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $217,000. 90.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the sale, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the transaction, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 over the last 90 days. 0.43% of the stock is currently owned by insiders.

Diamondback Energy Stock Up 0.9 %

NASDAQ:FANG opened at $204.37 on Wednesday. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 11.79 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $191.41 and its two-hundred day moving average price is $168.61.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm posted $5.29 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that Diamondback Energy, Inc. will post 18.67 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a dividend of $3.08 per share. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 6.03%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FANG shares. Truist Financial lifted their target price on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley decreased their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. UBS Group raised their target price on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Bank of America upgraded shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price target for the company from $129.00 to $170.00 in a report on Monday, February 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.53.

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.