Veracity Capital LLC Buys 796 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Veracity Capital LLC grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,192 shares of the oil and natural gas company’s stock after purchasing an additional 796 shares during the quarter. Veracity Capital LLC’s holdings in Diamondback Energy were worth $851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. increased its position in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the period. Values First Advisors Inc. bought a new position in Diamondback Energy during the third quarter worth about $42,000. CVA Family Office LLC raised its stake in Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares in the last quarter. Oliver Lagore Vanvalin Investment Group boosted its holdings in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after purchasing an additional 136 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $52,000. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the 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 sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $176.63 on Friday. The business’s 50-day moving average price is $170.46 and its 200-day moving average price is $182.51. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $51.57 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.44 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business 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 company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.49 earnings per share. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.58 EPS for the current year.

Diamondback Energy Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on FANG. Citigroup began 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 for the company. The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Truist Financial raised their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Piper Sandler cut 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 report on Tuesday, December 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

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.