Goehring & Rozencwajg Associates LLC Has $10.65 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Goehring & Rozencwajg Associates LLC reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,243 shares of the oil and natural gas company’s stock after selling 1,973 shares during the period. Diamondback Energy comprises about 2.2% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 19th largest position. Goehring & Rozencwajg Associates LLC’s holdings in Diamondback Energy were worth $10,651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in Diamondback Energy in the fourth quarter worth $29,000. UMB Bank n.a. boosted its stake in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy during the 3rd quarter valued at about $42,000. CVA Family Office LLC raised its stake in shares of Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Diamondback Energy in the 3rd quarter worth approximately $52,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FANG has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. KeyCorp dropped their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Friday, January 3rd. Truist Financial lifted their price objective on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Citigroup started coverage on Diamondback Energy in a research note on Monday, October 14th. They set a “neutral” rating and a $195.00 target price for the company. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Stock Down 1.2 %

Shares of FANG opened at $158.13 on Friday. Diamondback Energy, Inc. has a 12 month low of $151.25 and a 12 month high of $214.50. The stock has a market cap of $46.17 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 1.28 and a beta of 1.86. The company has a 50-day moving average price of $167.93 and a two-hundred day moving average price of $179.75. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is 20.61%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

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.