Sigma Planning Corp Sells 1,607 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Sigma Planning Corp cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 36.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,756 shares of the oil and natural gas company’s stock after selling 1,607 shares during the period. Sigma Planning Corp’s holdings in Diamondback Energy were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FANG. Massachusetts Financial Services Co. MA grew its position in shares of Diamondback Energy by 39.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after buying an additional 858,446 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $128,720,000. Wellington Management Group LLP grew its position in shares of Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after buying an additional 648,317 shares during the period. Raymond James & Associates grew its position in shares of Diamondback Energy by 143.0% during the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after buying an additional 577,514 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Diamondback Energy by 286.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock worth $92,380,000 after buying an additional 441,411 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $207.76 on Friday. The company’s fifty day simple moving average is $193.25 and its 200-day simple moving average is $169.49. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The firm has a market cap of $37.05 billion, a PE ratio of 11.98 and a beta of 1.93. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.29 earnings per share. Equities research analysts expect that Diamondback Energy, Inc. will post 18.83 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s dividend payout ratio is 20.76%.

Insiders Place Their Bets

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the transaction, the chief operating officer now owns 78,218 shares in the company, valued at $15,031,153.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FANG shares. KeyCorp lifted their price target on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. BMO Capital Markets boosted their price objective on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a report on Tuesday, February 13th. Piper Sandler boosted their price objective on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. Finally, Stifel Nicolaus boosted their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.53.

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.