SeaBridge Investment Advisors LLC Sells 555 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

SeaBridge Investment Advisors LLC trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,382 shares of the oil and natural gas company’s stock after selling 555 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Diamondback Energy were worth $3,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FANG. R Squared Ltd purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. lifted its holdings in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the period. Values First Advisors Inc. purchased a new stake in Diamondback Energy in the 3rd quarter worth approximately $42,000. CVA Family Office LLC lifted its holdings in Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 65 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Diamondback Energy in the 3rd quarter worth approximately $52,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Down 3.6 %

NASDAQ:FANG opened at $164.36 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average is $168.98 and its two-hundred day moving average is $181.00. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The stock has a market capitalization of $47.99 billion, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the company earned $5.49 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 15.55 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.19%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Activity at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction 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 $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FANG shares. Citigroup began coverage on Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Susquehanna reduced their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Finally, BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

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.