E Fund Management Co. Ltd. Sells 184 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

E Fund Management Co. Ltd. lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,783 shares of the oil and natural gas company’s stock after selling 184 shares during the period. E Fund Management Co. Ltd.’s holdings in Diamondback Energy were worth $277,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new stake in Diamondback Energy during the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the 4th quarter valued at about $34,000. CVA Family Office LLC bought a new position in shares of Diamondback Energy in the 4th quarter valued at about $35,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Diamondback Energy by 559.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 218 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Diamondback Energy by 37.3% in the 4th quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. Insiders have sold a total of 58,575 shares of company stock valued at $11,491,006 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $0.50 on Thursday, reaching $203.72. The stock had a trading volume of 1,032,896 shares, compared to its average volume of 1,728,650. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96. The firm has a market capitalization of $36.33 billion, a price-to-earnings ratio of 11.50 and a beta of 1.91. The firm’s 50-day moving average is $196.55 and its two-hundred day moving average is $171.35. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.10 earnings per share. On average, research analysts expect that Diamondback Energy, Inc. will post 18.91 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is 20.29%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FANG. Bank Of America (Bofa) reduced their target price on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. Susquehanna increased their price target on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. UBS Group increased their price target on shares of Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Mizuho increased their price target on shares of Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, StockNews.com upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $205.68.

Diamondback Energy 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.