Greenwood Capital Associates LLC Sells 2,123 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Greenwood Capital Associates LLC cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,514 shares of the oil and natural gas company’s stock after selling 2,123 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Diamondback Energy were worth $4,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Park Avenue Securities LLC boosted its position in shares of Diamondback Energy by 8.0% in the 3rd quarter. Park Avenue Securities LLC now owns 5,740 shares of the oil and natural gas company’s stock worth $990,000 after purchasing an additional 427 shares in the last quarter. Czech National Bank raised its holdings in Diamondback Energy by 12.3% in the third quarter. Czech National Bank now owns 38,166 shares of the oil and natural gas company’s stock worth $6,580,000 after buying an additional 4,180 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Diamondback Energy by 22.9% in the third quarter. GAMMA Investing LLC now owns 3,484 shares of the oil and natural gas company’s stock worth $601,000 after buying an additional 649 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Diamondback Energy by 28.9% during the third quarter. Fulton Bank N.A. now owns 3,437 shares of the oil and natural gas company’s stock valued at $593,000 after acquiring an additional 771 shares in the last quarter. Finally, Camelot Technology Advisors Inc. increased its holdings in shares of Diamondback Energy by 8.7% in the 3rd quarter. Camelot Technology Advisors Inc. now owns 8,771 shares of the oil and natural gas company’s stock worth $1,512,000 after purchasing an additional 701 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FANG. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Piper Sandler cut their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Raymond James boosted their price objective on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $215.00.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

FANG opened at $161.40 on Tuesday. The firm’s 50-day moving average price is $168.98 and its 200-day moving average price is $180.59. The company has a market cap of $47.13 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 1.28 and a beta of 1.86. 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, Inc. has a 52-week low of $147.93 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the business posted $5.49 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 15.5 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.23%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.