Inspire Investing LLC Decreases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Inspire Investing LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,218 shares of the oil and natural gas company’s stock after selling 8,260 shares during the period. Diamondback Energy accounts for 0.7% of Inspire Investing LLC’s investment portfolio, making the stock its 23rd biggest holding. Inspire Investing LLC’s holdings in Diamondback Energy were worth $6,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. Franklin Resources Inc. increased its stake in shares of Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Diamondback Energy by 368.1% during 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 last quarter. Everence Capital Management Inc. bought a new position in Diamondback Energy in the 4th quarter worth approximately $1,053,000. Geode Capital Management LLC boosted its holdings in Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after buying an additional 266,299 shares during the period. Finally, Atria Investments Inc boosted its holdings in Diamondback Energy by 18.5% in the 3rd 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. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

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

Diamondback Energy Price Performance

FANG stock opened at $177.59 on Thursday. The firm’s 50-day moving average price is $170.46 and its two-hundred day moving average price is $182.51. 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 $51.85 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.44 and a beta of 1.88. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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 (EPS) 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 quarter in the previous year, the firm posted $5.49 EPS. Diamondback Energy’s revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.58 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Analyst Ratings Changes

Several research firms recently commented on FANG. Piper Sandler cut their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Truist Financial raised their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Scotiabank dropped their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently 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.