Sequoia Financial Advisors LLC grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 43.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,865 shares of the oil and natural gas company’s stock after buying an additional 871 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Diamondback Energy were worth $387,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Fragasso Group Inc. purchased a new stake in Diamondback Energy in the fourth quarter worth about $223,000. B. Riley Wealth Advisors Inc. increased its position in Diamondback Energy by 18.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,189 shares of the oil and natural gas company’s stock worth $867,000 after buying an additional 1,112 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth about $212,000. Disciplined Investments LLC boosted its stake in shares of Diamondback Energy by 1,296.3% in the fourth quarter. Disciplined Investments LLC now owns 377 shares of the oil and natural gas company’s stock worth $52,000 after acquiring an additional 350 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Diamondback Energy by 43.9% in the fourth quarter. Parallel Advisors LLC now owns 7,827 shares of the oil and natural gas company’s stock worth $1,071,000 after acquiring an additional 2,387 shares during the period. Hedge funds and other institutional investors own 89.21% of the company’s stock.
Insider Transactions at Diamondback Energy
In other Diamondback Energy news, COO Daniel N. Wesson sold 3,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $132.51, for a total transaction of $397,530.00. Following the transaction, the chief operating officer now directly owns 65,802 shares in the company, valued at approximately $8,719,423.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 7,500 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $132.10, for a total transaction of $990,750.00. Following the transaction, the chief financial officer now directly owns 164,980 shares in the company, valued at approximately $21,793,858. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel N. Wesson sold 3,000 shares of Diamondback Energy stock in a transaction on Friday, June 9th. The shares were sold at an average price of $132.51, for a total value of $397,530.00. Following the completion of the transaction, the chief operating officer now owns 65,802 shares in the company, valued at $8,719,423.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,100 shares of company stock worth $2,920,988. 0.43% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Diamondback Energy Trading Up 1.7 %
Shares of NASDAQ FANG opened at $139.51 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.62. The business’s 50 day moving average price is $130.13 and its 200-day moving average price is $136.38. Diamondback Energy, Inc. has a fifty-two week low of $103.71 and a fifty-two week high of $168.95. The company has a market cap of $25.26 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 0.33 and a beta of 2.02.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last issued its quarterly earnings results on Monday, May 1st. The oil and natural gas company reported $4.10 earnings per share for the quarter, missing the consensus estimate of $4.33 by ($0.23). Diamondback Energy had a return on equity of 27.02% and a net margin of 47.15%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the company posted $5.20 earnings per share. The company’s quarterly revenue was down 20.1% compared to the same quarter last year. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 18.07 earnings per share for the current year.
Diamondback Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 11th were issued a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $3.20 annualized dividend and a dividend yield of 2.29%. Diamondback Energy’s payout ratio is 13.25%.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.
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