Envestnet Portfolio Solutions Inc. Sells 838 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Envestnet Portfolio Solutions Inc. lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.5% in the 4th quarter, Holdings Channel reports. The firm owned 6,464 shares of the oil and natural gas company’s stock after selling 838 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Diamondback Energy were worth $1,059,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $298,327,000. Assenagon Asset Management S.A. grew its position in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after acquiring an additional 1,042,505 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after purchasing an additional 658,644 shares during the period. Zimmer Partners LP bought a new stake in shares of Diamondback Energy during the third quarter worth $87,924,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after purchasing an additional 502,916 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on FANG shares. Mizuho raised their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Barclays lowered their target price on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Finally, Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.92.

Diamondback Energy Stock Up 0.0 %

FANG stock opened at $158.50 on Friday. The stock has a market capitalization of $45.88 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $160.47 and a 200 day moving average of $170.39.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.55 billion. Sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was 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 dividend yield of 2.52%. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.