Peterson Wealth Services Has $3.52 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Peterson Wealth Services increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,507 shares of the oil and natural gas company’s stock after purchasing an additional 104 shares during the quarter. Diamondback Energy makes up about 1.1% of Peterson Wealth Services’ portfolio, making the stock its 25th largest holding. Peterson Wealth Services’ holdings in Diamondback Energy were worth $3,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp increased its position in Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares in the last quarter. Geode Capital Management LLC grew its holdings in Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Diamondback Energy by 9.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after acquiring an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Diamondback Energy by 4.2% during the 3rd quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock worth $195,714,000 after acquiring an additional 46,109 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’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 directly owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $161.66 on Tuesday. Diamondback Energy, Inc. has a 52-week low of $152.00 and a 52-week high of $214.50. The company has a 50-day simple moving average of $167.54 and a 200 day simple moving average of $179.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market capitalization of $47.20 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.23%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of research reports. Benchmark reissued a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Citigroup initiated coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, KeyCorp reduced their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Four 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.00.

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.