Bowman & Co S.C. Sells 241 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Bowman & Co S.C. cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,935 shares of the oil and natural gas company’s stock after selling 241 shares during the period. Bowman & Co S.C.’s holdings in Diamondback Energy were worth $645,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FANG. Franklin Resources Inc. grew its holdings in shares of Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after purchasing an additional 47,951 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after buying an additional 7,694 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Diamondback Energy in the 4th quarter worth about $1,053,000. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after buying an additional 266,299 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of Diamondback Energy by 18.5% in the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after acquiring an additional 6,672 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FANG shares. Evercore ISI reduced their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Benchmark restated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Raymond James boosted their target price on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 19th. UBS Group reduced their price target on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Finally, Scotiabank decreased their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $214.17.

Diamondback Energy Trading Up 0.6 %

Shares of NASDAQ:FANG opened at $180.18 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $52.61 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.33 and a beta of 1.88. The business’s 50-day moving average is $170.60 and its 200 day moving average is $183.08. Diamondback Energy, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.49 EPS. On average, research analysts predict that Diamondback Energy, Inc. will post 16.08 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.00%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

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.