Seelaus Asset Management LLC Sells 149 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Seelaus Asset Management LLC reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,470 shares of the oil and natural gas company’s stock after selling 149 shares during the quarter. Seelaus Asset Management LLC’s holdings in Diamondback Energy were worth $426,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Quent Capital LLC raised its stake in shares of Diamondback Energy by 7.2% during the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after acquiring an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Financial Advocates Investment Management raised its position in Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares during the period. Sugarloaf Wealth Management LLC lifted its stake in Diamondback Energy by 0.3% in the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after purchasing an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Diamondback Energy by 16.1% during the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after buying an additional 57 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of recent research reports. KeyCorp lowered their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th. Truist Financial raised their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. Finally, Evercore ISI cut their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $209.64.

Diamondback Energy Stock Performance

FANG opened at $176.60 on Friday. 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 firm’s 50-day moving average price is $181.16 and its 200 day moving average price is $191.43. The firm has a market capitalization of $51.57 billion, a PE ratio of 10.11, a PEG ratio of 1.30 and a beta of 1.89. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results 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). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.49 EPS. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

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.