Triangle Securities Wealth Management Reduces Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Triangle Securities Wealth Management trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,517 shares of the oil and natural gas company’s stock after selling 92 shares during the quarter. Triangle Securities Wealth Management’s holdings in Diamondback Energy were worth $576,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in shares of Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after acquiring an additional 47,951 shares during the period. Benjamin Edwards Inc. raised its position in Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after purchasing an additional 7,694 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $1,053,000. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after buying an additional 266,299 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in shares of Diamondback Energy by 18.5% in the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after buying an additional 6,672 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $180.18 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm’s 50 day simple moving average is $170.60 and its 200-day simple moving average is $183.08. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The stock has a market capitalization of $52.61 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the firm posted $5.49 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts expect that Diamondback Energy, Inc. will post 16.08 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent analyst reports. Susquehanna reduced their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Truist Financial upped their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Finally, Benchmark reaffirmed a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $214.17.

Diamondback Energy Company 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.