Praxis Investment Management Inc. Has $807,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Praxis Investment Management Inc. decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 21.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,050 shares of the oil and natural gas company’s stock after selling 1,380 shares during the period. Praxis Investment Management Inc.’s holdings in Diamondback Energy were worth $807,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FANG. QRG Capital Management Inc. raised its stake in shares of Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after purchasing an additional 3,238 shares in the last quarter. Candriam S.C.A. increased its holdings in Diamondback Energy by 27.4% in the 4th quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company’s stock valued at $3,447,000 after buying an additional 4,529 shares during the period. SevenBridge Financial Group LLC raised its stake in shares of Diamondback Energy by 10.8% in the 4th quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company’s stock valued at $3,303,000 after buying an additional 1,990 shares in the last quarter. Tower Bridge Advisors raised its stake in shares of Diamondback Energy by 27.4% in the 4th quarter. Tower Bridge Advisors now owns 8,828 shares of the oil and natural gas company’s stock valued at $1,446,000 after buying an additional 1,898 shares in the last quarter. Finally, Boothe Investment Group Inc. lifted its holdings in shares of Diamondback Energy by 33.3% during the 4th quarter. Boothe Investment Group Inc. now owns 20,097 shares of the oil and natural gas company’s stock worth $3,292,000 after acquiring an additional 5,022 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FANG shares. Bank of America upped their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Scotiabank lowered their price objective on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Morgan Stanley cut their target price on Diamondback Energy from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Susquehanna lowered their price target on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Finally, Barclays dropped their price objective on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $193.13.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Diamondback Energy Price Performance

Shares of FANG stock opened at $148.85 on Friday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $139.18 and its 200-day moving average is $151.62. The firm has a market capitalization of $43.49 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.35 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. Diamondback Energy’s revenue was up 81.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.50 EPS. Sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

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.