Lakewood Asset Management LLC Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Lakewood Asset Management LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,340 shares of the oil and natural gas company’s stock after buying an additional 60 shares during the quarter. Diamondback Energy accounts for approximately 1.3% of Lakewood Asset Management LLC’s holdings, making the stock its 20th biggest holding. Lakewood Asset Management LLC’s holdings in Diamondback Energy were worth $1,858,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC boosted its holdings in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Values First Advisors Inc. bought a new position in Diamondback Energy in the 3rd quarter worth about $42,000. Oliver Lagore Vanvalin Investment Group boosted its stake in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares in the last quarter. CVA Family Office LLC boosted its stake in Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Diamondback Energy in the 3rd quarter worth about $52,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $179.56 on Thursday. The business has a 50-day moving average of $170.76 and a 200-day moving average of $183.46. Diamondback Energy, Inc. has a 1-year low of $147.93 and a 1-year high of $214.50. The company has a market capitalization of $52.43 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.33 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $5.49 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 16.08 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

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 value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Piper Sandler decreased their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Scotiabank decreased their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group reduced their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $210.08.

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.