Regal Investment Advisors LLC Reduces Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Regal Investment Advisors LLC decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,502 shares of the oil and natural gas company’s stock after selling 1,561 shares during the period. Regal Investment Advisors LLC’s holdings in Diamondback Energy were worth $4,506,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the 4th quarter worth about $28,000. R Squared Ltd purchased a new position in Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. increased its stake in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc lifted its position in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. grew its holdings in shares of Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after purchasing an additional 106 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on FANG. Raymond James dropped their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley cut their price target on Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Mizuho raised their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research note on Wednesday, March 5th. 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. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.17.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $127.64 on Tuesday. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $37.54 billion, a P/E ratio of 7.31, a PEG ratio of 1.24 and a beta of 1.44. The stock has a 50-day simple moving average of $149.32 and a two-hundred day simple moving average of $165.96.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. On average, equities 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 declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.13%. Diamondback Energy’s dividend payout ratio is presently 25.32%.

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.