KBC Group NV Sells 14,655 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

KBC Group NV cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 45.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,454 shares of the oil and natural gas company’s stock after selling 14,655 shares during the period. KBC Group NV’s holdings in Diamondback Energy were worth $2,707,000 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 the business. BKM Wealth Management LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at $34,000. CVA Family Office LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at $35,000. Cary Street Partners Investment Advisory LLC increased its holdings in Diamondback Energy by 559.0% in 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. Finally, First Horizon Advisors Inc. increased its holdings in Diamondback Energy by 37.3% in the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 87 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The disclosure for this sale can be found here. Insiders sold a total of 64,575 shares of company stock worth $12,673,846 in the last quarter. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on FANG shares. StockNews.com upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a report on Tuesday. UBS Group increased their price objective on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Stifel Nicolaus increased their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. KeyCorp raised their price target on shares of Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Company dropped their price target on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $207.80.

View Our Latest Report on Diamondback Energy

Diamondback Energy Trading Down 0.4 %

NASDAQ:FANG opened at $190.30 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. The firm has a market cap of $33.94 billion, a price-to-earnings ratio of 10.73 and a beta of 1.90. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The firm has a 50-day moving average price of $199.83 and a two-hundred day moving average price of $177.01.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the business posted $4.10 EPS. Diamondback Energy’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts expect that Diamondback Energy, Inc. will post 19.1 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.89%. Diamondback Energy’s payout ratio is currently 20.29%.

Diamondback Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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