Stanley Laman Group Ltd. Has $3.28 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Stanley Laman Group Ltd. lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 21,149 shares of the oil and natural gas company’s stock after selling 216 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Diamondback Energy were worth $3,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FANG. BKM Wealth Management LLC acquired a new stake in Diamondback Energy during the 4th quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the 4th quarter worth approximately $34,000. CVA Family Office LLC bought a new position in shares of Diamondback Energy during the 4th quarter worth approximately $35,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Diamondback Energy by 559.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after buying an additional 218 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of a number of research analyst reports. Bank Of America (Bofa) cut their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. 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 report on Tuesday, February 13th. Raymond James cut their target price on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Morgan Stanley cut their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Finally, KeyCorp raised their price objective on Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.53.

Insider Buying and Selling

In related news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of 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 is available through this hyperlink. In other news, COO Daniel N. Wesson sold 6,000 shares of the company’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 sale, the chief operating officer now owns 78,218 shares in the company, valued at $15,031,153.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Shares of FANG traded up $1.86 during trading hours on Thursday, reaching $207.10. 1,092,948 shares of the company’s stock traded hands, compared to its average volume of 1,731,826. The firm’s 50 day simple moving average is $192.69 and its 200-day simple moving average is $169.13. The stock has a market cap of $36.93 billion, a PE ratio of 11.94 and a beta of 1.93. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm earned $5.29 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. Equities analysts expect that Diamondback Energy, Inc. will post 18.84 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a $3.08 dividend. 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 dividend on an annualized basis and a yield of 5.95%. Diamondback Energy’s dividend 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.