Parkside Investments LLC Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Parkside Investments LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 100.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the oil and natural gas company’s stock after buying an additional 2,000 shares during the period. Parkside Investments LLC’s holdings in Diamondback Energy were worth $655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FANG. Financial Advocates Investment Management raised its stake in shares of Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 55 shares during the last quarter. Greenup Street Wealth Management LLC lifted its stake in shares of Diamondback Energy by 3.4% during the third 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 buying an additional 60 shares during the period. Lakewood Asset Management LLC boosted its holdings in shares of Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after purchasing an additional 60 shares during the last quarter. West Family Investments Inc. boosted its stake in 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 last quarter. Finally, CVA Family Office LLC boosted its position in shares of Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Down 1.9 %

FANG opened at $173.26 on Monday. 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, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The stock’s 50 day moving average price is $170.28 and its 200 day moving average price is $181.97. The stock has a market cap of $50.59 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.44 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results 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 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%. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the business posted $5.49 earnings per share. As a group, research analysts predict that Diamondback Energy, Inc. will post 15.58 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FANG. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Truist Financial raised their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company lifted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler cut their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, KeyCorp reduced their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

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.