Corient Private Wealth LLC Sells 407 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Corient Private Wealth LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 21,158 shares of the oil and natural gas company’s stock after selling 407 shares during the quarter. Corient Private Wealth LLC’s holdings in Diamondback Energy were worth $3,466,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Lakewood Asset Management LLC raised its position in Diamondback Energy by 0.5% in the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after purchasing an additional 60 shares during the period. Magnolia Capital Advisors LLC raised its position in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 shares during the period. Barden Capital Management Inc. raised its position in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares during the period. Citizens Financial Group Inc. RI raised its position in Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock worth $482,000 after purchasing an additional 65 shares during the period. Finally, Greenleaf Trust raised its position in Diamondback Energy by 1.0% in the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Frank D. Tsuru acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FANG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler decreased their price objective 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. Wells Fargo & Company decreased their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Finally, Barclays decreased their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $209.92.

Diamondback Energy Trading Up 0.0 %

NASDAQ:FANG opened at $158.50 on Friday. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company’s 50-day simple moving average is $160.47 and its 200 day simple moving average is $170.39. The firm has a market capitalization of $45.88 billion, a P/E ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85.

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

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s payout ratio is presently 25.32%.

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.