Mount Lucas Management LP Sells 311 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Mount Lucas Management LP decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,360 shares of the oil and natural gas company’s stock after selling 311 shares during the period. Mount Lucas Management LP’s holdings in Diamondback Energy were worth $714,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. SLT Holdings LLC bought a new stake in shares of Diamondback Energy during the 4th quarter valued at about $513,000. Amundi boosted its position in shares of Diamondback Energy by 1.6% during the 4th quarter. Amundi now owns 691,498 shares of the oil and natural gas company’s stock valued at $118,239,000 after purchasing an additional 10,737 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Diamondback Energy by 9.4% during the 4th quarter. Larson Financial Group LLC now owns 17,716 shares of the oil and natural gas company’s stock valued at $2,902,000 after purchasing an additional 1,517 shares in the last quarter. AMF Tjanstepension AB bought a new stake in shares of Diamondback Energy during the 4th quarter valued at about $1,551,000. Finally, Barden Capital Management Inc. boosted its position in shares of Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock valued at $718,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of FANG opened at $140.11 on Monday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $40.55 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 1.24 and a beta of 1.85. The stock has a 50 day moving average of $163.97 and a 200 day moving average of $173.26. Diamondback Energy, Inc. has a 12 month low of $138.94 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.85%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. Diamondback Energy’s dividend payout ratio is 25.32%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Raymond James upped their price target on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Piper Sandler dropped their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.09.

About Diamondback Energy

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.