Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,546 shares of the oil and natural gas company’s stock after selling 1,056 shares during the period. New York Life Investment Management LLC’s holdings in Diamondback Energy were worth $3,962,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth about $27,000. BluePath Capital Management LLC acquired a new position in Diamondback Energy during the 3rd quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in Diamondback Energy in the 4th quarter worth approximately $34,000. CVA Family Office LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $35,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in shares of Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 218 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $15,031,153.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now directly owns 8,485 shares in the company, valued at approximately $1,632,089.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was 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 directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock valued at $11,311,096 in the last ninety days. Company insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $201.50 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.74. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96. The company’s fifty day moving average price is $195.49 and its 200 day moving average price is $170.81. The company has a market capitalization of $35.94 billion, a PE ratio of 11.36 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.10 EPS. As a group, analysts expect that Diamondback Energy, Inc. will post 18.91 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s payout ratio is currently 20.29%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FANG. Morgan Stanley lowered their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. UBS Group upped their target price on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays started coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price target for the company. Finally, Susquehanna raised their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.37.

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.