Livforsakringsbolaget Skandia Omsesidigt Cuts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 83.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,000 shares of the oil and natural gas company’s stock after selling 5,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Diamondback Energy were worth $164,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after buying an additional 43,361 shares during the period. Franklin Resources Inc. increased its stake in Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after purchasing an additional 37,246 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Diamondback Energy by 368.1% during the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after purchasing an additional 7,694 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $1,053,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FANG shares. Truist Financial upped their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a report on Monday, January 13th. UBS Group lowered their price objective on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Citigroup started coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price for the company. Wells Fargo & Company boosted their price target on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $158.13 on Friday. The company has a 50 day simple moving average of $167.93 and a two-hundred day simple moving average of $179.75. Diamondback Energy, Inc. has a fifty-two week low of $151.25 and a fifty-two week high of $214.50. The company has a market capitalization 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 debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy Announces Dividend

The business also recently disclosed 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. This represents a $3.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy 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 value 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 approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by company insiders.

About Diamondback Energy

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.