Faithward Advisors LLC Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Faithward Advisors LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,804 shares of the oil and natural gas company’s stock after buying an additional 957 shares during the quarter. Faithward Advisors LLC’s holdings in Diamondback Energy were worth $3,900,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lakewood Asset Management LLC raised its position in shares of Diamondback Energy by 0.5% in 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 during the last quarter. Magnolia Capital Advisors LLC raised its holdings in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after buying an additional 64 shares during the last quarter. Barden Capital Management Inc. lifted its stake in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after buying an additional 64 shares during the period. Greenleaf Trust grew its holdings in shares of Diamondback Energy by 1.0% during the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after buying an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC increased its position in shares of Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Stock Up 0.9 %

Diamondback Energy stock opened at $124.53 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market capitalization of $36.04 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The business has a 50 day simple moving average of $154.96 and a 200-day simple moving average of $168.42. Diamondback Energy, Inc. has a 12 month low of $117.03 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 3.21%. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Wall Street Analyst Weigh In

FANG has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research note on Thursday, January 23rd. Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. UBS Group upped their target price on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Citigroup raised shares of Diamondback Energy from a “reduce” rating to a “buy” rating and raised their price target for the stock from $157.00 to $180.00 in a research report on Monday. Finally, Truist Financial lifted their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.29.

Diamondback Energy Company 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.