Center For Asset Management LLC Raises Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Center For Asset Management LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,976 shares of the oil and natural gas company’s stock after purchasing an additional 68 shares during the quarter. Center For Asset Management LLC’s holdings in Diamondback Energy were worth $324,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Values First Advisors Inc. acquired a new stake in Diamondback Energy in the 3rd quarter worth about $42,000. CVA Family Office LLC increased its stake in Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 65 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Diamondback Energy in the third quarter valued at approximately $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $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 SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

FANG has been the subject of a number of recent research reports. Susquehanna reduced their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Friday, January 3rd. Citigroup began coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Mizuho lowered their target price on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, UBS Group reduced their price target on shares of 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $173.26 on Monday. 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 stock has a 50 day simple moving average of $170.28 and a 200-day simple moving average of $182.11. The company has a market cap of $50.59 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results 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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm earned $5.49 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.58 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.