Thurston Springer Miller Herd & Titak Inc. Buys 473 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 34.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,866 shares of the oil and natural gas company’s stock after acquiring an additional 473 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Diamondback Energy were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Diamondback Energy by 1.3% in the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after buying an additional 149,871 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after purchasing an additional 266,299 shares in the last quarter. Pacer Advisors Inc. raised its stake in Diamondback Energy by 9.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after purchasing an additional 230,689 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in Diamondback Energy by 4.2% in the 3rd quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock worth $195,714,000 after purchasing an additional 46,109 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FANG shares. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Susquehanna reduced their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Mizuho dropped their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Piper Sandler reduced their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.08.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $179.12 on Friday. The firm has a market capitalization of $52.30 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The firm has a 50-day moving average price of $170.68 and a 200-day moving average price of $183.43. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the firm earned $5.49 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 16.08 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

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.