Peoples Bank KS Reduces Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Peoples Bank KS cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 560 shares of the oil and natural gas company’s stock after selling 60 shares during the quarter. Peoples Bank KS’s holdings in Diamondback Energy were worth $92,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Carolinas Wealth Consulting LLC grew its position in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the second quarter valued at approximately $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy in the third quarter worth $42,000. Oliver Lagore Vanvalin Investment Group boosted its holdings in Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares in the last quarter. Finally, CVA Family Office LLC increased its position in Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy 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 transaction, the director now owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FANG has been the subject of several research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 target price for the company. Evercore ISI lowered their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. KeyCorp cut their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Benchmark reissued a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, Piper Sandler dropped their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.83.

Diamondback Energy Stock Up 1.6 %

Diamondback Energy stock opened at $172.42 on Wednesday. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The stock has a fifty day simple moving average of $171.01 and a two-hundred day simple moving average of $184.30. 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 firm has a market cap of $50.34 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 1.19 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the business posted $5.49 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts predict that Diamondback Energy, Inc. will post 16.51 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 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.