Synergy Asset Management LLC Purchases New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Synergy Asset Management LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 390 shares of the oil and natural gas company’s stock, valued at approximately $67,000.

Other institutional investors have also recently bought and sold shares of the company. Foster & Motley Inc. raised its holdings in shares of Diamondback Energy by 8.2% in the 4th quarter. Foster & Motley Inc. now owns 7,239 shares of the oil and natural gas company’s stock worth $1,186,000 after acquiring an additional 551 shares during the last quarter. Swedbank AB increased its holdings in Diamondback Energy by 28.0% during the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after purchasing an additional 43,361 shares in the last quarter. Allen Capital Group LLC raised its stake in shares of Diamondback Energy by 11.6% in the fourth quarter. Allen Capital Group LLC now owns 10,270 shares of the oil and natural gas company’s stock worth $1,683,000 after purchasing an additional 1,068 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Diamondback Energy by 75.2% in the fourth quarter. Hantz Financial Services Inc. now owns 37,553 shares of the oil and natural gas company’s stock valued at $6,152,000 after purchasing an additional 16,122 shares in the last quarter. Finally, Smith Group Asset Management LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $1,504,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy 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 completion of the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Wells Fargo & Company raised their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. Susquehanna dropped their target price 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. Finally, Benchmark reaffirmed a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Diamondback Energy Stock Down 0.3 %

Shares of NASDAQ FANG opened at $170.41 on Friday. The business has a 50-day simple moving average of $169.65 and a two-hundred day simple moving average of $181.40. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The company has a market cap of $49.76 billion, a P/E ratio of 9.75, a P/E/G ratio of 1.44 and a beta of 1.88. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS 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 firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the firm posted $5.49 EPS. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. Research analysts anticipate that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

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

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.