Laffer Tengler Investments Inc. Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Laffer Tengler Investments Inc. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,007 shares of the oil and natural gas company’s stock after purchasing an additional 208 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Diamondback Energy were worth $2,295,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. R Squared Ltd acquired a new position in Diamondback Energy in the fourth quarter valued at about $29,000. UMB Bank n.a. boosted its position in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc increased its holdings in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Diamondback Energy in the third quarter valued at approximately $52,000. Finally, Synergy Asset Management LLC acquired a new position in Diamondback Energy during the fourth quarter worth $67,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley increased their target price on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Truist Financial increased their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $216.09.

Diamondback Energy Stock Down 2.0 %

Shares of NASDAQ:FANG opened at $145.04 on Wednesday. The firm has a 50 day simple moving average of $165.00 and a 200-day simple moving average of $174.34. Diamondback Energy, Inc. has a twelve month low of $140.81 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 capitalization of $41.98 billion, a PE ratio of 8.30, a P/E/G ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be given a $1.00 dividend. The ex-dividend date is Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.76%. Diamondback Energy’s dividend payout ratio is 25.32%.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

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.