Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,862 shares of the oil and natural gas company’s stock after selling 748 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Diamondback Energy were worth $3,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after buying an additional 149,871 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Diamondback Energy by 6.1% in the third 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 acquiring an additional 266,299 shares during the period. Pacer Advisors Inc. boosted its position in shares of Diamondback Energy by 9.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after purchasing an additional 230,689 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Diamondback Energy by 4.2% during the third quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock worth $195,714,000 after buying an additional 46,109 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. UBS Group dropped their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Evercore ISI cut their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Raymond James increased their target price on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.17.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 0.6 %

Shares of FANG stock opened at $180.18 on Tuesday. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The firm’s 50 day moving average price is $170.60 and its two-hundred day moving average price is $182.92. The stock has a market cap of $52.61 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.88. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the company posted $5.49 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.57 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date 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%.

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.