Advisory Services Network LLC reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.8% during the 1st quarter, according to a recent filing with the Securities & Exchange Commission. The firm sold 1,552 shares, leaving them with 18,286 shares of the oil and natural gas company’s stock, valued at $3,624,000. Other institutional investors and hedge funds have also made adjustments to their holdings in Diamondback Energy.
Diamondback Energy’s stock opened at $204.17 on Friday, with a 50-day simple moving average of $197.09 and a 200-day simple moving average of $184.77. The company has a market capitalization of $36.41 billion, a PE ratio of 11.51, and a beta of 1.90. Diamondback Energy reported earnings per share of $4.50 for the quarter, surpassing analysts’ estimates. The firm’s revenue for the quarter was $2.23 billion.
The company recently paid a quarterly dividend of $0.90 per share, resulting in a dividend yield of 1.76%. Insider transactions at Diamondback Energy include the sale of shares by COO Daniel N. Wesson and VP Jere W. Thompson III. Analysts have set new price targets for Diamondback Energy, with a consensus rating of “Moderate Buy” and an average target price of $208.85.
Diamondback Energy, Inc. focuses on acquiring, developing, exploring, and exploiting oil and natural gas reserves in the Permian Basin. To stay updated on Diamondback Energy’s news and ratings, sign up for MarketBeat.com’s daily email newsletter.