HB Wealth Management LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 22.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,036 shares of the oil and natural gas company’s stock after purchasing an additional 747 shares during the quarter. HB Wealth Management LLC’s holdings in Diamondback Energy were worth $661,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Financial Advocates Investment Management boosted its stake in 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 valued at $329,000 after buying an additional 55 shares in the last quarter. Greenup Street Wealth Management LLC lifted its holdings in 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 acquiring an additional 60 shares during the last quarter. Lakewood Asset Management LLC boosted its position in shares of Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. West Family Investments Inc. grew its stake in shares of 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 purchasing an additional 61 shares during the last quarter. Finally, CVA Family Office LLC raised its holdings in shares of Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. The trade was 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. Company insiders own 0.48% of the company’s stock.
Diamondback Energy Trading Down 1.8 %
Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS 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 business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company earned $5.49 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts forecast that Diamondback Energy, Inc. will post 15.57 EPS for the current fiscal year.
Diamondback Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.03%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. Susquehanna decreased their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Raymond James upped their target price on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. Finally, Piper Sandler reduced their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.17.
Check Out Our Latest Stock Analysis on Diamondback Energy
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.
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