Osaic Holdings Inc. Decreases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Osaic Holdings Inc. lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 47.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,535 shares of the oil and natural gas company’s stock after selling 41,518 shares during the quarter. Osaic Holdings Inc.’s holdings in Diamondback Energy were worth $9,232,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FANG. Sage Mountain Advisors LLC increased its holdings in shares of Diamondback Energy by 4.5% in the first quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock valued at $281,000 after purchasing an additional 61 shares during the period. MCF Advisors LLC boosted its stake in shares of Diamondback Energy by 8.6% in the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock worth $131,000 after buying an additional 67 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in Diamondback Energy by 2.8% during the first quarter. Meeder Advisory Services Inc. now owns 2,612 shares of the oil and natural gas company’s stock worth $518,000 after acquiring an additional 72 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in Diamondback Energy by 20.8% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 424 shares of the oil and natural gas company’s stock valued at $84,000 after acquiring an additional 73 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. lifted its holdings in Diamondback Energy by 9.4% in the first quarter. Wetzel Investment Advisors Inc. now owns 859 shares of the oil and natural gas company’s stock valued at $171,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. Wolfe Research began coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial upped their price objective on shares of Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Scotiabank dropped their target price on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Morgan Stanley reduced their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Finally, Stifel Nicolaus raised their price objective on Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.65.

Diamondback Energy Trading Up 1.5 %

NASDAQ FANG traded up $2.96 on Wednesday, reaching $201.32. 242,110 shares of the company were exchanged, compared to its average volume of 1,576,363. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average price is $197.77 and its 200 day moving average price is $187.64. The stock has a market capitalization of $35.90 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 1.13 and a beta of 1.90. Diamondback Energy, Inc. has a fifty-two week low of $142.71 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the firm posted $4.10 earnings per share. Diamondback Energy’s quarterly revenue was up 15.7% on a year-over-year basis. Analysts forecast that Diamondback Energy, Inc. will post 18.7 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.79%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Insider Activity

In related news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now directly owns 7,585 shares in the company, valued at $1,516,241.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the sale, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at $1,516,241.50. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

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.