Diamondback Energy, Inc. $FANG Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 66.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,210 shares of the oil and natural gas company’s stock after selling 26,310 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Diamondback Energy were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FANG. Cresset Asset Management LLC boosted its position in shares of Diamondback Energy by 37.5% during the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock worth $649,000 after buying an additional 1,288 shares during the period. Jump Financial LLC acquired a new position in shares of Diamondback Energy during the second quarter worth approximately $2,301,000. Cerity Partners LLC boosted its position in shares of Diamondback Energy by 13.5% during the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after buying an additional 6,069 shares during the period. AXA S.A. boosted its position in shares of Diamondback Energy by 8.5% during the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after buying an additional 4,103 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Diamondback Energy by 37.1% during the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock worth $21,239,000 after buying an additional 41,866 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research analyst reports. Mizuho upped their target price on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. UBS Group upped their target price on Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Piper Sandler upped their target price on Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Citigroup upped their target price on Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Scotiabank upped their target price on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $223.26.

Insider Buying and Selling

In other Diamondback Energy news, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the transaction, the chief accounting officer owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matt Zmigrosky sold 20,899 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $180.00, for a total value of $3,761,820.00. Following the completion of the transaction, the executive vice president directly owned 60,493 shares in the company, valued at $10,888,740. This represents a 25.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 78,464 shares of company stock worth $14,946,406 over the last three months. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $194.24 on Wednesday. The stock has a market capitalization of $54.64 billion, a P/E ratio of 225.86 and a beta of 0.42. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The business’s fifty day moving average is $195.84 and its two-hundred day moving average is $174.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.54 earnings per share. On average, research analysts forecast that Diamondback Energy, Inc. will post 19.65 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $1.10 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is currently 511.63%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.