Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Centaurus Financial Inc.

Centaurus Financial Inc. grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 26.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,285 shares of the oil and natural gas company’s stock after purchasing an additional 269 shares during the period. Centaurus Financial Inc.’s holdings in Diamondback Energy were worth $199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BKM Wealth Management LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $27,000. Logan Capital Management Inc. acquired a new position in shares of Diamondback Energy during the 4th quarter worth approximately $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the 4th quarter worth approximately $34,000. CVA Family Office LLC acquired a new position in shares of Diamondback Energy during the 4th quarter worth approximately $35,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Diamondback Energy by 559.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after purchasing an additional 218 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FANG has been the subject of several research reports. Wells Fargo & Company cut their price objective on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Truist Financial lifted their price objective on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Scotiabank lifted their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Morgan Stanley lowered their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Finally, Stifel Nicolaus lifted their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.35.

Diamondback Energy Stock Up 0.7 %

Shares of Diamondback Energy stock opened at $188.87 on Wednesday. The company has a fifty day moving average price of $198.10 and a 200 day moving average price of $179.12. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96. The stock has a market cap of $33.68 billion, a price-to-earnings ratio of 10.65 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the company earned $4.10 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.13 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were issued a $0.90 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.91%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Insiders Place Their Bets

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jere W. Thompson III sold 900 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. Insiders have sold 41,900 shares of company stock worth $8,332,450 in the last quarter. 0.48% of the stock is owned by corporate 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.