Diamondback Energy, Inc. (NASDAQ:FANG) Position Boosted by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 78.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,839 shares of the oil and natural gas company’s stock after buying an additional 7,412 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Diamondback Energy were worth $2,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FANG. State Street Corp grew its position in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after acquiring an additional 149,871 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the period. Pacer Advisors Inc. increased its stake in shares of Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after purchasing an additional 230,689 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Diamondback Energy by 10.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock valued at $538,547,000 after buying an additional 247,065 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Diamondback Energy by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,282,557 shares of the oil and natural gas company’s stock worth $456,930,000 after buying an additional 87,288 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company increased their price target on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Truist Financial lifted their target price on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday. Finally, Citigroup assumed coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.08.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Trading Up 1.6 %

Diamondback Energy stock opened at $177.61 on Tuesday. 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 business’s 50-day simple moving average is $170.72 and its 200-day simple moving average is $183.62. The firm has a market capitalization of $51.86 billion, a PE ratio of 10.17, a PEG ratio of 1.19 and a beta of 1.88. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.49 EPS. Equities research analysts forecast that Diamondback Energy, Inc. will post 16.51 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

About Diamondback Energy

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.