Peoples Bank KS Cuts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Peoples Bank KS lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 560 shares of the oil and natural gas company’s stock after selling 60 shares during the period. Peoples Bank KS’s holdings in Diamondback Energy were worth $92,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FANG. Carolinas Wealth Consulting LLC grew its position 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 acquiring an additional 55 shares during the period. HHM Wealth Advisors LLC bought a new position in Diamondback Energy during the second quarter valued at $40,000. Values First Advisors Inc. bought a new position in Diamondback Energy during the third quarter valued at $42,000. Oliver Lagore Vanvalin Investment Group increased its position in Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after buying an additional 136 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in shares of Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $172.42 on Wednesday. The firm has a market capitalization of $50.34 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The business’s 50-day moving average price is $171.01 and its 200-day moving average price is $184.30.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business earned $5.49 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. Sell-side analysts forecast that Diamondback Energy, Inc. will post 16.51 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.09%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Truist Financial lifted their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Susquehanna lowered their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Finally, Scotiabank lowered their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.83.

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.