Xponance Inc. Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Xponance Inc. lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,639 shares of the oil and natural gas company’s stock after buying an additional 1,168 shares during the quarter. Xponance Inc.’s holdings in Diamondback Energy were worth $4,037,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Mutual of America Capital Management LLC grew its position in shares of Diamondback Energy by 2.6% during the third quarter. Mutual of America Capital Management LLC now owns 23,098 shares of the oil and natural gas company’s stock worth $3,982,000 after purchasing an additional 588 shares in the last quarter. Caprock Group LLC grew its holdings in Diamondback Energy by 3.0% during the 3rd quarter. Caprock Group LLC now owns 8,074 shares of the oil and natural gas company’s stock valued at $1,392,000 after buying an additional 237 shares in the last quarter. Prospera Financial Services Inc raised its position in shares of Diamondback Energy by 56.9% during the third quarter. Prospera Financial Services Inc now owns 4,553 shares of the oil and natural gas company’s stock valued at $786,000 after buying an additional 1,651 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Diamondback Energy in the third quarter worth $105,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Diamondback Energy during the third quarter worth $585,000. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Up 0.6 %

FANG opened at $158.48 on Friday. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50. The company has a market capitalization of $45.87 billion, a P/E ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85. The stock’s fifty day moving average is $160.80 and its two-hundred day moving average is $170.76. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This is an increase 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 2.52%. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FANG. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a report on Wednesday, March 5th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Friday, January 3rd. Truist Financial upped their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Piper Sandler cut their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Four equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.92.

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.