Clarity Financial LLC Acquires 40,441 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Clarity Financial LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 83.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,140 shares of the oil and natural gas company’s stock after buying an additional 40,441 shares during the quarter. Diamondback Energy accounts for about 1.7% of Clarity Financial LLC’s holdings, making the stock its 19th biggest holding. Clarity Financial LLC’s holdings in Diamondback Energy were worth $14,604,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after buying an additional 47,951 shares in the last quarter. Benjamin Edwards Inc. grew its position in Diamondback Energy by 368.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after acquiring an additional 7,694 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Diamondback Energy in the 4th quarter worth about $1,053,000. Geode Capital Management LLC raised its position in Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in shares of Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after purchasing an additional 6,672 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FANG shares. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Benchmark reaffirmed a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Susquehanna cut their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Truist Financial increased their price objective on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler cut their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Four research 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Diamondback Energy Stock Down 0.3 %

Diamondback Energy stock opened at $170.41 on Friday. The firm has a market capitalization of $49.76 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The firm’s fifty day moving average price is $169.65 and its two-hundred day moving average price is $181.40. Diamondback Energy, Inc. has a 1-year low of $147.93 and a 1-year 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.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the business posted $5.49 EPS. Diamondback Energy’s revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Diamondback Energy, Inc. will post 15.55 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is 20.61%.

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.