Thoroughbred Financial Services LLC Sells 170 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Thoroughbred Financial Services LLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,901 shares of the oil and natural gas company’s stock after selling 170 shares during the period. Thoroughbred Financial Services LLC’s holdings in Diamondback Energy were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares in the last quarter. Boston Partners lifted its position in Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after buying an additional 571,820 shares in the last quarter. Geode Capital Management LLC lifted its position in Diamondback Energy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock worth $769,706,000 after buying an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after buying an additional 502,916 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Diamondback Energy by 30.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after acquiring an additional 658,644 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $123.37 on Friday. The company has a market cap of $35.71 billion, a price-to-earnings ratio of 7.06, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a fifty-two week low of $123.15 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a fifty day moving average price of $155.91 and a 200-day moving average price of $168.96.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup reduced their price target on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Piper Sandler lowered their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Finally, Truist Financial boosted their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.33.

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.