Sigma Planning Corp Cuts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Sigma Planning Corp lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 31.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,737 shares of the oil and natural gas company’s stock after selling 2,211 shares during the period. Sigma Planning Corp’s holdings in Diamondback Energy were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in Diamondback Energy in the 4th quarter worth $29,000. UMB Bank n.a. increased its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc lifted its position in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Diamondback Energy during the third quarter valued at approximately $52,000. Finally, Synergy Asset Management LLC purchased a new position in Diamondback Energy during the 4th quarter valued at approximately $67,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Morgan Stanley upped their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. UBS Group lifted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Raymond James upped their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.09.

Diamondback Energy Trading Down 2.1 %

FANG stock opened at $151.92 on Wednesday. Diamondback Energy, Inc. has a 12 month low of $151.69 and a 12 month high of $214.50. The firm’s 50-day moving average is $165.36 and its 200 day moving average is $175.93. The company has a market capitalization of $44.36 billion, a PE ratio of 8.70, a P/E/G ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.63%. Diamondback Energy’s payout ratio is 20.61%.

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.