Wesbanco Bank Inc. Acquires 9,010 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Wesbanco Bank Inc. lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,765 shares of the oil and natural gas company’s stock after acquiring an additional 9,010 shares during the period. Wesbanco Bank Inc.’s holdings in Diamondback Energy were worth $13,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in shares of Diamondback Energy by 155.6% in the fourth quarter. SG Americas Securities LLC now owns 43,043 shares of the oil and natural gas company’s stock worth $7,052,000 after buying an additional 26,204 shares in the last quarter. Park Place Capital Corp lifted its position in shares of Diamondback Energy by 49.0% in the fourth quarter. Park Place Capital Corp now owns 6,581 shares of the oil and natural gas company’s stock worth $1,078,000 after buying an additional 2,164 shares in the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth about $202,000. MCF Advisors LLC raised its position in Diamondback Energy by 24.2% during the fourth quarter. MCF Advisors LLC now owns 1,523 shares of the oil and natural gas company’s stock valued at $249,000 after purchasing an additional 297 shares during the period. Finally, Transform Wealth LLC raised its position in Diamondback Energy by 85.7% during the fourth quarter. Transform Wealth LLC now owns 3,805 shares of the oil and natural gas company’s stock valued at $623,000 after purchasing an additional 1,756 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The stock was 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 owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 0.4 %

Shares of NASDAQ FANG opened at $177.59 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $51.85 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The stock’s fifty day simple moving average is $170.56 and its two-hundred day simple moving average is $182.54. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50.

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 (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business posted $5.49 EPS. As a group, analysts expect that Diamondback Energy, Inc. will post 15.58 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Truist Financial upped their price objective on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company upped their price objective on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Mizuho decreased their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. Finally, Citigroup assumed coverage on Diamondback Energy in a research note on Monday, October 14th. They set a “neutral” rating and a $195.00 target price on the stock. Four investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $214.17.

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.