Diamondback Energy, Inc. $FANG Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,128 shares of the oil and natural gas company’s stock after selling 6,384 shares during the quarter. Kennedy Capital Management LLC’s holdings in Diamondback Energy were worth $5,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators grew its position in Diamondback Energy by 31.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after buying an additional 66 shares during the period. Scotia Capital Inc. grew its position in Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after buying an additional 68 shares during the period. Equitable Trust Co. grew its position in Diamondback Energy by 0.7% during the third quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock worth $1,435,000 after buying an additional 73 shares during the period. Townsend & Associates Inc grew its position in Diamondback Energy by 0.5% during the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after buying an additional 75 shares during the period. Finally, 180 Wealth Advisors LLC grew its position in Diamondback Energy by 2.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after buying an additional 78 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 1.1%

FANG stock opened at $189.96 on Tuesday. The company’s 50 day simple moving average is $195.63 and its 200-day simple moving average is $175.86. The firm has a market capitalization of $53.44 billion, a PE ratio of 220.89 and a beta of 0.42. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $3.74 by $0.49. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.54 earnings per share. Equities analysts expect that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. Diamondback Energy’s payout ratio is currently 511.63%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FANG. Freedom Capital upgraded shares of Diamondback Energy to a “strong-buy” rating in a research report on Tuesday, March 10th. Barclays upped their target price on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Roth Mkm restated a “neutral” rating and set a $205.00 target price on shares of Diamondback Energy in a research report on Tuesday, May 5th. Scotiabank increased their price target on shares of Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Benchmark lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $223.63.

Insider Buying and Selling at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the transaction, the executive vice president owned 51,392 shares of the company’s stock, valued at approximately $10,283,539.20. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at $17,228,179.50. The trade was a 7.55% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 53,315 shares of company stock valued at $10,414,384. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.