Point72 Hong Kong Ltd lowered its position in Diamondback Energy Inc (NASDAQ:FANG) by 32.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,012 shares of the oil and natural gas company’s stock after selling 1,463 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Diamondback Energy were worth $280,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CNB Bank acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at $30,000. Ancora Advisors LLC bought a new position in Diamondback Energy during the fourth quarter valued at about $37,000. Evoke Wealth LLC acquired a new stake in shares of Diamondback Energy in the third quarter worth about $45,000. Capital Wealth Alliance LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter worth about $38,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Diamondback Energy during the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 96.90% of the company’s stock.
In other news, CEO Travis D. Stice bought 17,146 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $28.40 per share, for a total transaction of $486,946.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Hof Matthew Kaes Van’t bought 4,750 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average price of $17.23 per share, with a total value of $81,842.50. Following the completion of the purchase, the chief financial officer now directly 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 currently owned by company insiders.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 18th. The oil and natural gas company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.13. Diamondback Energy had a net margin of 6.05% and a return on equity of 7.00%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business posted $1.21 EPS. The business’s quarterly revenue was up 74.4% on a year-over-year basis. Equities research analysts predict that Diamondback Energy Inc will post 6.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.78%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.19. Diamondback Energy’s dividend payout ratio is currently 21.65%.
A number of research analysts have recently commented on FANG shares. Royal Bank of Canada lowered their price objective on Diamondback Energy from $135.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, March 10th. TD Securities reduced 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. KeyCorp decreased their target price on Diamondback Energy from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday. Roth Capital downgraded Diamondback Energy from a “buy” rating to a “neutral” rating in a report on Friday, March 13th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $52.00 price target on shares of Diamondback Energy in a research report on Thursday, March 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Diamondback Energy presently has a consensus rating of “Buy” and an average target price 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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