Diamondback Energy, Inc. (NASDAQ:FANG) is Schear Investment Advisers LLC’s 9th Largest Position

Schear Investment Advisers LLC lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 19,509 shares of the oil and natural gas company’s stock after selling 163 shares during the period. Diamondback Energy accounts for about 2.9% of Schear Investment Advisers LLC’s investment portfolio, making the stock its 9th largest position. Schear Investment Advisers LLC’s holdings in Diamondback Energy were worth $3,025,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Cornerstone Investment Partners LLC increased its stake in shares of Diamondback Energy by 8.1% during the fourth quarter. Cornerstone Investment Partners LLC now owns 365,712 shares of the oil and natural gas company’s stock worth $56,715,000 after purchasing an additional 27,439 shares in the last quarter. Xponance Inc. grew its stake in Diamondback Energy by 1.1% during the 4th quarter. Xponance Inc. now owns 22,060 shares of the oil and natural gas company’s stock valued at $3,421,000 after acquiring an additional 241 shares in the last quarter. AIA Group Ltd purchased a new stake in Diamondback Energy during the 4th quarter valued at about $1,361,000. Peterson Wealth Services purchased a new stake in Diamondback Energy during the 4th quarter valued at about $1,912,000. Finally, Daiwa Securities Group Inc. grew its stake in Diamondback Energy by 61.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 36,780 shares of the oil and natural gas company’s stock valued at $5,703,000 after acquiring an additional 13,996 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.8 %

FANG stock traded up $1.50 during midday trading on Friday, hitting $201.10. The company’s stock had a trading volume of 810,939 shares, compared to its average volume of 1,746,890. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The firm has a market capitalization of $35.86 billion, a P/E ratio of 11.65 and a beta of 1.93. The firm has a 50-day simple moving average of $188.92 and a 200-day simple moving average of $167.21.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company posted $5.29 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 18.53 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.13%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FANG. Morgan Stanley dropped their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday. Barclays began coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. Truist Financial decreased their target price on shares of Diamondback Energy from $250.00 to $248.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Evercore ISI upped their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Finally, Bank of America upgraded shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $129.00 to $170.00 in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $196.95.

Insider Activity

In other news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by corporate insiders.

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.