Runnymede Capital Advisors Inc. Purchases New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Runnymede Capital Advisors Inc. purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 5,473 shares of the oil and natural gas company’s stock, valued at approximately $897,000. Diamondback Energy accounts for 0.8% of Runnymede Capital Advisors Inc.’s portfolio, making the stock its 24th biggest holding.

A number of other hedge funds also recently bought and sold shares of the business. Lakewood Asset Management LLC increased its holdings in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares during the period. Magnolia Capital Advisors LLC grew its holdings in shares of Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after acquiring an additional 64 shares during the period. Barden Capital Management Inc. grew its holdings in shares of Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after acquiring an additional 64 shares during the period. Citizens Financial Group Inc. RI grew its holdings in shares of Diamondback Energy by 2.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock worth $482,000 after acquiring an additional 65 shares during the period. Finally, Greenleaf Trust grew its holdings in shares of Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FANG. Raymond James reduced their target price on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. Mizuho upped their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Finally, Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Four investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $209.92.

Diamondback Energy Stock Performance

Shares of FANG opened at $158.50 on Friday. The business’s fifty day simple moving average is $160.47 and its two-hundred day simple moving average is $170.51. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The company has a market cap of $45.88 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate 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%. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.52%. This is a boost 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%.

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.