Consolidated Planning Corp Purchases Shares of 6,723 Diamondback Energy, Inc. (NASDAQ:FANG)

Consolidated Planning Corp purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,723 shares of the oil and natural gas company’s stock, valued at approximately $1,043,000.

Several other hedge funds also recently added to or reduced their stakes in FANG. BKM Wealth Management LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $27,000. BluePath Capital Management LLC acquired a new position in shares of Diamondback Energy in the third quarter worth about $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $34,000. CVA Family Office LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $35,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Diamondback Energy by 559.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after acquiring an additional 218 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on FANG shares. Raymond James reduced their price target on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. UBS Group upped their price target on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Mizuho increased their price objective on shares of Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Evercore ISI increased their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Finally, Bank of America upgraded shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $129.00 to $170.00 in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $202.53.

Diamondback Energy Stock Up 0.3 %

NASDAQ:FANG traded up $0.66 during midday trading on Friday, hitting $207.76. 1,184,009 shares of the company were exchanged, compared to its average volume of 1,327,313. The company has a fifty day simple moving average of $193.25 and a 200 day simple moving average of $169.49. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $37.05 billion, a PE ratio of 11.98 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $5.29 EPS. Diamondback Energy’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 18.83 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 5.93%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Insiders Place Their Bets

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total value of $514,536.25. Following the sale, the vice president now owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,675 shares of company stock valued at $11,311,096. Insiders own 0.43% of the company’s stock.

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.