Legacy CG LLC Grows Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Legacy CG LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,299 shares of the oil and natural gas company’s stock after buying an additional 738 shares during the quarter. Diamondback Energy accounts for approximately 1.5% of Legacy CG LLC’s holdings, making the stock its 29th largest position. Legacy CG LLC’s holdings in Diamondback Energy were worth $4,800,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Choreo LLC increased its holdings in shares of Diamondback Energy by 8.9% in the fourth quarter. Choreo LLC now owns 8,124 shares of the oil and natural gas company’s stock worth $1,310,000 after purchasing an additional 664 shares during the last quarter. Tectonic Advisors LLC raised its holdings in shares of Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after acquiring an additional 8,704 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Diamondback Energy by 26.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,438 shares of the oil and natural gas company’s stock valued at $14,537,000 after purchasing an additional 18,985 shares in the last quarter. Welch Group LLC raised its stake in Diamondback Energy by 3.9% during the fourth quarter. Welch Group LLC now owns 4,040 shares of the oil and natural gas company’s stock valued at $650,000 after purchasing an additional 151 shares in the last quarter. Finally, GDS Wealth Management grew its stake in shares of Diamondback Energy by 3.8% in the 4th quarter. GDS Wealth Management now owns 101,900 shares of the oil and natural gas company’s stock worth $16,694,000 after buying an additional 3,736 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FANG. Scotiabank decreased their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Truist Financial raised their price objective on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Benchmark restated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. KeyCorp cut their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Insider Buying and Selling at Diamondback Energy

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 sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Performance

Shares of FANG opened at $164.76 on Thursday. 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 firm has a market cap of $48.11 billion, a PE ratio of 9.43, a P/E/G ratio of 1.28 and a beta of 1.86. Diamondback Energy, Inc. has a 12 month low of $150.00 and a 12 month high of $214.50. The stock has a fifty day moving average price of $168.48 and a 200-day moving average price of $180.00.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.43 billion. During the same quarter last year, the business posted $5.49 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts predict that Diamondback Energy, Inc. will post 15.5 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 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.