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

Clear Harbor Asset Management LLC cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,313 shares of the oil and natural gas company’s stock after selling 108 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Diamondback Energy were worth $3,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in Diamondback Energy by 3.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock worth $278,000 after acquiring an additional 64 shares during the period. Coldstream Capital Management Inc. boosted its stake in Diamondback Energy by 1.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock valued at $566,000 after acquiring an additional 64 shares during the last quarter. Veracity Capital LLC grew its holdings in Diamondback Energy by 3.5% during the 3rd quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock worth $319,000 after acquiring an additional 70 shares in the last quarter. Moody National Bank Trust Division raised its stake in shares of Diamondback Energy by 0.8% in the 3rd quarter. Moody National Bank Trust Division now owns 9,231 shares of the oil and natural gas company’s stock valued at $1,430,000 after purchasing an additional 76 shares in the last quarter. Finally, Simmons Bank grew its stake in Diamondback Energy by 1.2% in the third quarter. Simmons Bank now owns 6,564 shares of the oil and natural gas company’s stock worth $1,017,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the completion of the sale, the executive vice president now owns 44,445 shares in the company, valued at approximately $8,619,663.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the transaction, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the transaction, the executive vice president now directly owns 44,445 shares of the company’s stock, valued at $8,619,663.30. The disclosure for this sale can be found here. Insiders have sold 27,675 shares of company stock worth $5,311,096 in the last three months. Insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. Piper Sandler increased their price objective on shares of Diamondback Energy from $222.00 to $227.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. KeyCorp upped their target price on Diamondback Energy from $186.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. BMO Capital Markets increased their target price on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 13th. Finally, Mizuho upped their price target on shares of Diamondback Energy from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.11.

Diamondback Energy Price Performance

Diamondback Energy stock traded up $1.64 during trading hours on Thursday, hitting $198.17. 1,052,596 shares of the stock were exchanged, compared to its average volume of 1,836,092. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $198.53. The business’s 50-day moving average is $172.86 and its two-hundred day moving average is $161.89. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The stock has a market capitalization of $35.36 billion, a P/E ratio of 11.43 and a beta of 1.92.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company posted $5.29 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts expect that Diamondback Energy, Inc. will post 17.93 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a dividend yield of 6.22%. Diamondback Energy’s payout ratio is presently 20.76%.

Diamondback Energy 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.