Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Secure Asset Management LLC

Secure Asset Management LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,185 shares of the oil and natural gas company’s stock after purchasing an additional 1,613 shares during the period. Secure Asset Management LLC’s holdings in Diamondback Energy were worth $1,832,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in shares of Diamondback Energy by 1.3% in the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Geode Capital Management LLC raised its stake in Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after buying an additional 266,299 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Diamondback Energy by 9.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after buying an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Diamondback Energy by 4.2% during the 3rd quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock valued at $195,714,000 after acquiring an additional 46,109 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FANG shares. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Truist Financial raised their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday. Citigroup initiated coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. Finally, StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Stock Down 0.5 %

NASDAQ FANG opened at $176.63 on Friday. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The company has a market capitalization of $51.57 billion, a P/E ratio of 10.11, a PEG ratio of 1.44 and a beta of 1.88. The company’s 50 day simple moving average is $170.46 and its 200 day simple moving average is $182.51. 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 announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company 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%. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company posted $5.49 EPS. Equities research analysts expect that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insiders Place Their Bets

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. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy 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.