Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 31.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,343 shares of the oil and natural gas company’s stock after selling 1,988 shares during the period. Frank Rimerman Advisors LLC’s holdings in Diamondback Energy were worth $712,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Copperwynd Financial LLC boosted its holdings in Diamondback Energy by 28.1% in the 4th quarter. Copperwynd Financial LLC now owns 5,015 shares of the oil and natural gas company’s stock worth $822,000 after buying an additional 1,099 shares during the last quarter. First National Trust Co acquired a new position in shares of Diamondback Energy during the 4th quarter worth approximately $2,165,000. 12th Street Asset Management Company LLC boosted its holdings in shares of Diamondback Energy by 17.6% during the 4th quarter. 12th Street Asset Management Company LLC now owns 60,195 shares of the oil and natural gas company’s stock worth $9,862,000 after purchasing an additional 8,997 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 30.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after purchasing an additional 658,644 shares during the last quarter. Finally, Renasant Bank acquired a new position in shares of Diamondback Energy during the 4th quarter worth approximately $277,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 3.0 %

Diamondback Energy stock opened at $150.20 on Friday. The firm has a market capitalization of $43.47 billion, a P/E ratio of 8.60, a P/E/G ratio of 1.24 and a beta of 1.84. The stock’s fifty day simple moving average is $162.00 and its 200-day simple moving average is $171.69. 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 twelve month low of $137.09 and a twelve month high of $214.50.

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

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.66%. 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 dividend payout ratio is 25.32%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FANG shares. JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their target price on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial upped their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a report on Friday, January 3rd. Finally, Morgan Stanley upped their price objective on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.92.

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.