Guinness Asset Management LTD Sells 9,710 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Guinness Asset Management LTD decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 13.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 64,422 shares of the oil and natural gas company’s stock after selling 9,710 shares during the quarter. Guinness Asset Management LTD’s holdings in Diamondback Energy were worth $10,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted 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 valued at $31,000 after buying an additional 136 shares in the last quarter. Values First Advisors Inc. bought a new stake in Diamondback Energy during the third quarter valued at about $42,000. CVA Family Office LLC lifted its position in shares of Diamondback Energy by 28.1% in the third 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. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after acquiring an additional 136 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Diamondback Energy in the 3rd quarter worth approximately $52,000. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Friday, January 3rd. Mizuho decreased their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Piper Sandler cut their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Benchmark reaffirmed a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, Citigroup began coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.17.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 0.6 %

NASDAQ FANG opened at $180.18 on Monday. The stock has a market cap of $52.61 billion, a PE ratio of 10.31, a PEG ratio of 1.33 and a beta of 1.88. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The company’s 50-day moving average price is $170.60 and its 200-day moving average price is $182.92.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business posted $5.49 earnings per share. Equities research analysts forecast that Diamondback Energy, Inc. will post 16.08 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is 20.61%.

Diamondback Energy Company 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.