GeoWealth Management LLC Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

GeoWealth Management LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 69.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,072 shares of the oil and natural gas company’s stock after acquiring an additional 1,264 shares during the period. GeoWealth Management LLC’s holdings in Diamondback Energy were worth $503,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy in the 4th quarter worth about $29,000. UMB Bank n.a. increased its stake in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc boosted its stake in 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 acquiring an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. grew its holdings in 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 period. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade 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 the SEC website. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on FANG shares. JPMorgan Chase & Co. dropped their price target on Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Scotiabank reduced their price target on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Wells Fargo & Company dropped their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Mizuho lifted their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.13.

Diamondback Energy Stock Up 5.7 %

FANG stock opened at $137.64 on Monday. The business’s 50-day moving average price is $147.14 and its 200-day moving average price is $164.65. The stock has a market cap of $40.48 billion, a P/E ratio of 7.88, a PEG ratio of 1.24 and a beta of 1.44. 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, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.55 billion. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 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.