Sunbelt Securities Inc. Has $340,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Sunbelt Securities Inc. reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,716 shares of the oil and natural gas company’s stock after selling 200 shares during the period. Sunbelt Securities Inc.’s holdings in Diamondback Energy were worth $340,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Founders Capital Management lifted its holdings in Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth $27,000. Logan Capital Management Inc. bought a new stake in shares of Diamondback Energy during the 4th quarter worth $31,000. Turtle Creek Wealth Advisors LLC bought a new position in Diamondback Energy in the 4th quarter worth $34,000. Finally, CVA Family Office LLC bought a new position in Diamondback Energy in the 4th quarter worth $35,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays assumed coverage on Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price target on the stock. Morgan Stanley dropped their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus upped their price target on Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. KeyCorp started coverage on shares of Diamondback Energy in a research report on Thursday. They set an “overweight” rating and a $225.00 target price on the stock. Finally, Sanford C. Bernstein began coverage on shares of Diamondback Energy in a research note on Thursday, June 6th. They set an “outperform” rating and a $243.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $209.35.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $199.19 on Friday. The stock has a market capitalization of $35.52 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 1.07 and a beta of 1.90. The firm’s 50-day moving average price is $196.78 and its two-hundred day moving average price is $180.79. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a 1-year low of $125.69 and a 1-year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. Diamondback Energy’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the company earned $4.10 EPS. On average, equities analysts predict that Diamondback Energy, Inc. will post 19.06 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were issued a $0.90 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.81%. Diamondback Energy’s dividend payout ratio is 20.29%.

Insider Buying and Selling

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,900 shares of company stock worth $7,362,750 in the last 90 days. Corporate insiders own 0.48% of the company’s stock.

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.