Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,660 shares of the oil and natural gas company’s stock after selling 404 shares during the quarter. Oakworth Capital Inc.’s holdings in Diamondback Energy were worth $1,343,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. increased its position in shares of Diamondback Energy by 145.2% in the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock worth $1,860,000 after purchasing an additional 7,102 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Diamondback Energy by 613.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after purchasing an additional 13,243 shares during the last quarter. Raymond James & Associates increased its position in shares of Diamondback Energy by 143.0% in the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after purchasing an additional 577,514 shares during the last quarter. Morgan Stanley increased its position in shares of Diamondback Energy by 2.6% in the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after purchasing an additional 89,663 shares during the last quarter. Finally, Czech National Bank increased its position in shares of Diamondback Energy by 0.3% in the 4th quarter. Czech National Bank now owns 31,348 shares of the oil and natural gas company’s stock worth $4,861,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on FANG. Evercore ISI boosted their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Bank of America raised shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $129.00 to $170.00 in a research report on Monday, February 12th. Stifel Nicolaus boosted their price objective on shares of Diamondback Energy from $192.00 to $224.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Bank Of America (Bofa) lowered their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research report on Thursday, January 18th. Finally, Truist Financial lowered their price objective on shares of Diamondback Energy from $250.00 to $248.00 and set a “buy” rating for the company in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.95.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock worth $11,311,096 over the last 90 days. 0.43% of the stock is owned by company insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded down $3.20 during trading on Wednesday, reaching $200.75. The company had a trading volume of 1,078,595 shares, compared to its average volume of 1,761,998. The firm’s fifty day moving average is $187.00 and its 200 day moving average is $166.74. The firm has a market capitalization of $35.80 billion, a PE ratio of 11.76 and a beta of 1.93. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $5.29 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that Diamondback Energy, Inc. will post 18.71 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a dividend of $3.08 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.14%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s payout ratio is currently 20.76%.

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.