Philadelphia Trust Co. Trims Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Philadelphia Trust Co. lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,544 shares of the oil and natural gas company’s stock after selling 815 shares during the quarter. Philadelphia Trust Co.’s holdings in Diamondback Energy were worth $8,304,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of Diamondback Energy by 1.8% during the fourth quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock valued at $3,058,000 after purchasing an additional 354 shares during the last quarter. Raymond James Trust N.A. raised its stake in Diamondback Energy by 145.2% during the fourth quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after buying an additional 7,102 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Diamondback Energy by 748.0% in the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after acquiring an additional 13,426 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Diamondback Energy by 613.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after acquiring an additional 13,243 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Diamondback Energy by 143.0% in the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after acquiring an additional 577,514 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the sale, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Insiders have sold a total of 58,575 shares of company stock valued at $11,491,006 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG traded up $1.07 during trading hours on Tuesday, hitting $198.90. 177,579 shares of the company’s stock traded hands, compared to its average volume of 1,683,992. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The firm has a market capitalization of $35.47 billion, a P/E ratio of 11.15 and a beta of 1.91. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average price is $199.68 and its two-hundred day moving average price is $173.73.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping the consensus estimate of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. Diamondback Energy’s revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.10 EPS. Equities research analysts predict that Diamondback Energy, Inc. will post 19.01 EPS for the current year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FANG shares. Scotiabank lifted their price target on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Evercore ISI upped their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Wells Fargo & Company reduced their price target on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. StockNews.com raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, Piper Sandler lifted their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.95.

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.