Secure Asset Management LLC Has $1.83 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Secure Asset Management LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 16.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,185 shares of the oil and natural gas company’s stock after acquiring an additional 1,613 shares during the quarter. Secure Asset Management LLC’s holdings in Diamondback Energy were worth $1,832,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FANG. Thrivent Financial for Lutherans grew its stake in Diamondback Energy by 2.8% in the second quarter. Thrivent Financial for Lutherans now owns 26,441 shares of the oil and natural gas company’s stock valued at $5,294,000 after purchasing an additional 728 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Diamondback Energy by 5.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 30,967 shares of the oil and natural gas company’s stock valued at $6,199,000 after buying an additional 1,482 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Diamondback Energy by 59.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 32,448 shares of the oil and natural gas company’s stock valued at $6,496,000 after buying an additional 12,147 shares in the last quarter. AXA S.A. increased its holdings in Diamondback Energy by 35.4% in the second quarter. AXA S.A. now owns 25,167 shares of the oil and natural gas company’s stock worth $5,038,000 after buying an additional 6,575 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new position in Diamondback Energy during the second quarter valued at approximately $2,493,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FANG. Raymond James increased their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Benchmark restated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Finally, UBS Group cut their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Diamondback Energy Stock Down 0.5 %

Shares of FANG stock opened at $176.63 on Friday. The stock has a market cap of $51.57 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. 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 fifty day moving average price of $170.46 and a 200 day moving average price of $182.51. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $5.49 earnings per share. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. Analysts predict that Diamondback Energy, Inc. will post 15.58 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.04%. Diamondback Energy’s payout ratio is presently 20.61%.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated 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 directly owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by corporate insiders.

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.