Wetzel Investment Advisors Inc. Makes New $122,000 Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Wetzel Investment Advisors Inc. purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) during the fourth quarter, HoldingsChannel reports. The firm purchased 785 shares of the oil and natural gas company’s stock, valued at approximately $122,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Greenleaf Trust boosted its stake in shares of Diamondback Energy by 3.6% in the 4th quarter. Greenleaf Trust now owns 6,848 shares of the oil and natural gas company’s stock worth $1,062,000 after buying an additional 236 shares during the last quarter. RIA Advisory Group LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth $657,000. Cornerstone Investment Partners LLC boosted its stake in shares of Diamondback Energy by 8.1% in the 4th quarter. Cornerstone Investment Partners LLC now owns 365,712 shares of the oil and natural gas company’s stock worth $56,715,000 after buying an additional 27,439 shares during the last quarter. Xponance Inc. boosted its stake in shares of Diamondback Energy by 1.1% in the 4th quarter. Xponance Inc. now owns 22,060 shares of the oil and natural gas company’s stock worth $3,421,000 after buying an additional 241 shares during the last quarter. Finally, AIA Group Ltd purchased a new position in shares of Diamondback Energy in the 4th quarter worth $1,361,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 0.6 %

NASDAQ FANG traded up $1.14 during trading hours on Friday, hitting $200.74. 1,800,897 shares of the company were exchanged, compared to its average volume of 1,299,025. The stock has a 50-day moving average price of $189.90 and a 200 day moving average price of $167.56. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The stock has a market cap of $35.80 billion, a PE ratio of 11.58 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted $5.29 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts forecast that Diamondback Energy, Inc. will post 18.53 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 6.14%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is presently 20.76%.

Analysts Set New Price Targets

Several research firms recently weighed in on FANG. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Monday, March 4th. Piper Sandler lifted their target price on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday. KeyCorp lifted their target price on Diamondback Energy from $186.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Scotiabank lifted their target price on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Bank of America upgraded Diamondback Energy from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $129.00 to $170.00 in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.95.

View Our Latest Analysis on Diamondback Energy

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the transaction, the executive vice president now directly owns 44,445 shares in the company, valued at approximately $8,619,663.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by insiders.

Diamondback Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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