Securian Asset Management Inc. lowered its holdings in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,860 shares of the oil and natural gas company’s stock after selling 237 shares during the period. Securian Asset Management Inc.’s holdings in Diamondback Energy were worth $2,033,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Savant Capital LLC lifted its stake in Diamondback Energy by 3.6% in the third quarter. Savant Capital LLC now owns 1,952 shares of the oil and natural gas company’s stock valued at $235,000 after acquiring an additional 67 shares during the last quarter. Cambridge Trust Co. lifted its stake in Diamondback Energy by 28.0% in the fourth quarter. Cambridge Trust Co. now owns 366 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 80 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Diamondback Energy by 1.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 6,957 shares of the oil and natural gas company’s stock worth $952,000 after buying an additional 83 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Diamondback Energy by 5.2% in the third quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the oil and natural gas company’s stock worth $220,000 after buying an additional 91 shares during the last quarter. Finally, FDx Advisors Inc. lifted its stake in shares of Diamondback Energy by 1.3% in the third quarter. FDx Advisors Inc. now owns 7,099 shares of the oil and natural gas company’s stock worth $855,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on FANG. Citigroup dropped their target price on shares of Diamondback Energy from $170.00 to $157.00 and set a “buy” rating on the stock in a research report on Thursday, March 23rd. Roth Capital reaffirmed a “buy” rating on shares of Diamondback Energy in a research report on Wednesday, February 22nd. Morgan Stanley dropped their target price on shares of Diamondback Energy from $168.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, March 27th. Piper Sandler dropped their target price on shares of Diamondback Energy from $214.00 to $207.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 7th. Finally, Stifel Nicolaus dropped their target price on shares of Diamondback Energy from $176.00 to $172.00 and set a “buy” rating on the stock in a research report on Thursday, March 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $178.05.
Diamondback Energy Trading Down 0.6 %
Diamondback Energy (NASDAQ:FANG – Get Rating) last announced its earnings results on Tuesday, February 21st. The oil and natural gas company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.20 by $0.09. Diamondback Energy had a return on equity of 29.29% and a net margin of 45.48%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the firm posted $3.63 EPS. The business’s revenue was up .4% compared to the same quarter last year. On average, analysts predict that Diamondback Energy, Inc. will post 20.6 EPS for the current fiscal year.
Diamondback Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, March 3rd were issued a $2.95 dividend. This represents a $11.80 annualized dividend and a yield of 8.36%. The ex-dividend date of this dividend was Thursday, March 2nd. Diamondback Energy’s dividend payout ratio (DPR) is currently 12.99%.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.
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