Armstrong Advisory Group Inc. Boosts Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Armstrong Advisory Group Inc. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.7% during the 4th quarter, HoldingsChannel reports. The firm owned 1,270 shares of the oil and natural gas company’s stock after purchasing an additional 163 shares during the period. Armstrong Advisory Group Inc.’s holdings in Diamondback Energy were worth $208,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Federated Hermes Inc. increased its stake in shares of Diamondback Energy by 218.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,432 shares of the oil and natural gas company’s stock worth $487,000 after purchasing an additional 1,668 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Diamondback Energy in the second quarter worth about $405,000. Citizens Financial Group Inc. RI lifted its position in shares of Diamondback Energy by 30.1% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 2,730 shares of the oil and natural gas company’s stock valued at $547,000 after buying an additional 632 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $1,773,000. Finally, E Fund Management Co. Ltd. increased its holdings in Diamondback Energy by 6.7% in the 2nd quarter. E Fund Management Co. Ltd. now owns 2,140 shares of the oil and natural gas company’s stock worth $428,000 after acquiring an additional 134 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on FANG shares. Mizuho dropped their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Piper Sandler dropped their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Raymond James raised their price target on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group started coverage on Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Finally, Evercore ISI decreased their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.08.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $179.12 on Friday. The company has a market cap of $52.30 billion, a P/E ratio of 10.25, a P/E/G ratio of 1.33 and a beta of 1.88. The business’s 50 day moving average price is $170.68 and its 200-day moving average price is $183.43. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the company posted $5.49 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Diamondback Energy, Inc. will post 16.08 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

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.