Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Aviso Wealth Management

Aviso Wealth Management decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 53.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,642 shares of the oil and natural gas company’s stock after selling 1,868 shares during the period. Aviso Wealth Management’s holdings in Diamondback Energy were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FANG. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new stake in Diamondback Energy in the fourth quarter worth $29,000. UMB Bank n.a. lifted its stake in Diamondback Energy by 247.3% in the fourth 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 during the last quarter. Key Financial Inc boosted its holdings in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the period. Finally, Rakuten Securities Inc. boosted its holdings in shares of Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after acquiring an additional 106 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $161.60 on Wednesday. Diamondback Energy, Inc. has a fifty-two week low of $137.09 and a fifty-two week high of $214.50. The stock’s 50-day moving average is $159.82 and its two-hundred day moving average is $170.00. 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 firm has a market cap of $46.77 billion, a P/E ratio of 9.25, a PEG ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.68% and a net margin of 33.64%. Analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is presently 25.32%.

Analysts Set New Price Targets

FANG has been the subject of a number of analyst reports. Citigroup reduced their target price on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Morgan Stanley increased their price objective on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Mizuho raised their target price on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Piper Sandler reduced their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company cut 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 note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.92.

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.