Fulton Bank N.A. Acquires 279 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Fulton Bank N.A. increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,716 shares of the oil and natural gas company’s stock after buying an additional 279 shares during the period. Fulton Bank N.A.’s holdings in Diamondback Energy were worth $609,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Financial Advocates Investment Management boosted its position in shares of Diamondback Energy by 3.0% during the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Diamondback Energy by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock valued at $1,566,000 after buying an additional 60 shares during the period. Greenup Street Wealth Management LLC increased its position in shares of Diamondback Energy by 3.4% in the 3rd 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 in the last quarter. Finally, West Family Investments Inc. raised its stake in Diamondback Energy by 3.4% during 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 period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 0.8 %

Diamondback Energy stock opened at $170.99 on Friday. The company’s 50-day moving average price is $170.78 and its two-hundred day moving average price is $184.12. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market cap of $49.93 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.19 and a beta of 1.88. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $5.49 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, analysts expect that Diamondback Energy, Inc. will post 16.51 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm 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 was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.11%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FANG has been the topic of several recent analyst reports. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. JPMorgan Chase & Co. started coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target for the company. Jefferies Financial Group started coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Finally, Truist Financial lifted their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $209.83.

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.