Fragasso Financial Advisors Inc lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,928 shares of the oil and natural gas company’s stock after buying an additional 70 shares during the period. Fragasso Financial Advisors Inc’s holdings in Diamondback Energy were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Carolinas Wealth Consulting LLC boosted its holdings in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Financial Advocates Investment Management increased its holdings in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares during the period. Brighton Jones LLC boosted its stake in shares of Diamondback Energy by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock valued at $1,566,000 after buying an additional 60 shares during the period. Greenup Street Wealth Management LLC grew its position in shares of Diamondback Energy by 3.4% during the third quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after buying an additional 60 shares in the last quarter. Finally, West Family Investments Inc. increased its stake in shares of Diamondback Energy by 3.4% during the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after buying an additional 61 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Diamondback Energy
In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.48% of the company’s stock.
Diamondback Energy Stock Performance
Diamondback Energy (NASDAQ:FANG – Get Free Report) last issued 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 analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm earned $5.49 earnings per share. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 16.51 EPS for the current year.
Diamondback Energy Dividend Announcement
The firm also recently declared 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 annualized dividend and a dividend yield of 2.03%. Diamondback Energy’s dividend payout ratio is currently 20.61%.
Wall Street Analysts Forecast Growth
FANG has been the subject of several analyst reports. Evercore ISI lowered their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Piper Sandler lowered their price objective on 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, JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $210.08.
Check Out Our Latest Research Report on Diamondback Energy
Diamondback Energy 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.
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