Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 378,417 shares of the oil and natural gas company’s stock after selling 11,328 shares during the period. Diamondback Energy comprises 1.8% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Anchor Capital Advisors LLC owned approximately 0.13% of Diamondback Energy worth $61,996,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Peloton Wealth Strategists lifted its stake in shares of Diamondback Energy by 48.0% in the fourth quarter. Peloton Wealth Strategists now owns 4,545 shares of the oil and natural gas company’s stock valued at $745,000 after purchasing an additional 1,475 shares during the period. QRG Capital Management Inc. increased its holdings in Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after buying an additional 3,238 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $34,326,000. Oppenheimer & Co. Inc. boosted its stake in shares of Diamondback Energy by 4.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 15,886 shares of the oil and natural gas company’s stock worth $2,603,000 after acquiring an additional 678 shares in the last quarter. Finally, New York Life Investment Management LLC grew its holdings in shares of Diamondback Energy by 5.4% in the 4th quarter. New York Life Investment Management LLC now owns 25,172 shares of the oil and natural gas company’s stock worth $4,124,000 after acquiring an additional 1,297 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 2.1 %

Shares of FANG opened at $155.59 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $151.00 and a fifty-two week high of $214.50. The company’s fifty day moving average is $165.34 and its two-hundred day moving average is $175.63. The firm has a market cap of $45.43 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. 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 earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FANG. Piper Sandler reduced their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Raymond James lifted their price target on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. UBS Group increased their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $216.09.

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.