Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 14.5% in the 4th quarter, HoldingsChannel reports. The firm owned 79,400 shares of the oil and natural gas company’s stock after selling 13,500 shares during the period. Diamondback Energy makes up 2.1% of Adams Natural Resources Fund Inc.’s investment portfolio, making the stock its 14th biggest position. Adams Natural Resources Fund Inc.’s holdings in Diamondback Energy were worth $13,008,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FANG. ZEGA Investments LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $6,132,000. Summit Global Investments increased its holdings in Diamondback Energy by 325.7% in the fourth quarter. Summit Global Investments now owns 4,998 shares of the oil and natural gas company’s stock valued at $819,000 after buying an additional 3,824 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at $78,000. HUB Investment Partners LLC lifted its holdings in Diamondback Energy by 0.5% during the 4th quarter. HUB Investment Partners LLC now owns 36,319 shares of the oil and natural gas company’s stock worth $5,950,000 after buying an additional 187 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its position in shares of Diamondback Energy by 17.6% during the 4th quarter. iA Global Asset Management Inc. now owns 31,472 shares of the oil and natural gas company’s stock worth $5,156,000 after acquiring an additional 4,713 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $158.50 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $160.47 and its two-hundred day moving average is $170.51. The stock has a market capitalization of $45.88 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group raised their target price on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Mizuho upped their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Barclays reduced their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. 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 has a consensus rating of “Moderate Buy” and an average price target of $209.92.

Diamondback Energy Company 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.