HBW Advisory Services LLC Acquires New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

HBW Advisory Services LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, HoldingsChannel.com reports. The fund bought 3,101 shares of the oil and natural gas company’s stock, valued at approximately $508,000.

Several other institutional investors and hedge funds have also made changes to their positions in FANG. Carolinas Wealth Consulting LLC lifted its holdings in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Financial Advocates Investment Management grew its stake in Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Brighton Jones LLC increased its holdings in Diamondback Energy by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock worth $1,566,000 after purchasing an additional 60 shares during the period. Greenup Street Wealth Management LLC raised its position in Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after purchasing an additional 60 shares in the last quarter. Finally, West Family Investments Inc. lifted its holdings in shares of Diamondback Energy by 3.4% in the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after buying an additional 61 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $174.77 on Friday. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50. 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 company has a market cap of $51.03 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The company’s 50 day moving average is $170.76 and its 200 day moving average is $183.96.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.49 earnings per share. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 16.51 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insider Activity at Diamondback Energy

In other Diamondback Energy 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 value of $208,150.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research reports. UBS Group lowered their price objective on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research note on Monday, December 9th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Mizuho cut their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued 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.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $209.83.

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.