Parallel Advisors LLC Buys 906 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Parallel Advisors LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,151 shares of the oil and natural gas company’s stock after buying an additional 906 shares during the quarter. Parallel Advisors LLC’s holdings in Diamondback Energy were worth $2,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. increased its stake in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares in the last quarter. Key Financial Inc raised its holdings in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares during the period. Finally, Rakuten Securities Inc. lifted its position in Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 1.9 %

Shares of FANG opened at $153.03 on Tuesday. 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, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The company has a market cap of $44.29 billion, a PE ratio of 8.76, a P/E/G ratio of 1.24 and a beta of 1.85. The business has a fifty day moving average of $161.67 and a 200 day moving average of $171.22.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.61%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is presently 25.32%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. Citigroup reduced their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday. Truist Financial lifted their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lowered their price objective on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.33.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by corporate insiders.

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.