ZEGA Investments LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 49.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,764 shares of the oil and natural gas company’s stock after selling 3,700 shares during the period. ZEGA Investments LLC’s holdings in Diamondback Energy were worth $662,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its position in Diamondback Energy by 16.3% during the 4th quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock worth $50,890,000 after purchasing an additional 47,450 shares during the period. Guinness Asset Management LTD boosted its position in Diamondback Energy by 12.0% during the fourth quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company’s stock worth $8,042,000 after purchasing an additional 5,816 shares in the last quarter. National Pension Service increased its position in Diamondback Energy by 7.7% during the fourth quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company’s stock worth $57,382,000 after buying an additional 27,229 shares in the last quarter. Peterson Wealth Services lifted its position in shares of Diamondback Energy by 174.2% in the fourth quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company’s stock valued at $3,604,000 after acquiring an additional 15,229 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Diamondback Energy by 11.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 67,977 shares of the oil and natural gas company’s stock worth $10,219,000 after purchasing an additional 6,992 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.
Diamondback Energy Trading Down 0.2%
Shares of FANG opened at $202.94 on Friday. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $216.90. The firm has a market capitalization of $56.83 billion, a P/E ratio of 39.56 and a beta of 0.43. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $194.61 and its 200 day simple moving average is $191.65.
Diamondback Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.
Insider Buying and Selling
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Meloy sold 83,334 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the sale, the director directly owned 851,530 shares of the company’s stock, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 117,167 shares of company stock worth $22,305,309. 0.64% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on FANG shares. Wall Street Zen upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research lowered shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Mizuho boosted their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Morgan Stanley reiterated an “equal weight” rating and set a $216.00 target price on shares of Diamondback Energy in a research report on Wednesday, August 19th. Finally, Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $222.21.
Get Our Latest Analysis on FANG
About Diamondback Energy
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.
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