Citizens Financial Group Inc. RI Sells 7,917 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Citizens Financial Group Inc. RI trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 79.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,987 shares of the oil and natural gas company’s stock after selling 7,917 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Diamondback Energy were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its holdings in Diamondback Energy by 3.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock valued at $278,000 after purchasing an additional 64 shares during the period. Coldstream Capital Management Inc. increased its holdings in Diamondback Energy by 1.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after acquiring an additional 64 shares during the last quarter. MCF Advisors LLC raised its stake in Diamondback Energy by 8.6% in the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after acquiring an additional 67 shares during the period. Veracity Capital LLC lifted its holdings in Diamondback Energy by 3.5% during the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 70 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Diamondback Energy by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after purchasing an additional 75 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at $18,532,416. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on FANG. Scotiabank raised their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 price objective on shares of Diamondback Energy in a research note on Monday, March 4th. KeyCorp raised their target price on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Piper Sandler upped their price target on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Raymond James cut their price objective on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.53.

Diamondback Energy Stock Up 0.3 %

FANG opened at $207.76 on Monday. The business’s fifty day simple moving average is $193.25 and its 200 day simple moving average is $169.66. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. 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 stock has a market cap of $37.05 billion, a PE ratio of 11.98 and a beta of 1.93.

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, beating the consensus estimate of $4.61 by $0.13. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $5.29 EPS. As a group, research analysts expect that Diamondback Energy, Inc. will post 18.83 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.