Clear Harbor Asset Management LLC Trims Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Clear Harbor Asset Management LLC lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,862 shares of the oil and natural gas company’s stock after selling 748 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Diamondback Energy were worth $3,254,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its holdings in shares of 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. Zimmer Partners LP bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $87,924,000. Holocene Advisors LP lifted its holdings in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after acquiring an additional 457,896 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after acquiring an additional 439,579 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Diamondback Energy by 17,151.2% during the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after purchasing an additional 338,050 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’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 transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 0.6 %

Shares of NASDAQ:FANG opened at $180.18 on Tuesday. The firm has a fifty day moving average of $170.60 and a two-hundred day moving average of $182.92. The company has a quick ratio of 0.42, a current ratio of 0.45 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 firm has a market capitalization of $52.61 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last issued its 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 firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the firm earned $5.49 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities analysts expect that Diamondback Energy, Inc. will post 15.57 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FANG. KeyCorp reduced their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Raymond James lifted their price objective on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price target for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.17.

Diamondback Energy 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.