HighPoint Advisor Group LLC Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

HighPoint Advisor Group LLC boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,051 shares of the oil and natural gas company’s stock after purchasing an additional 262 shares during the period. HighPoint Advisor Group LLC’s holdings in Diamondback Energy were worth $656,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FANG. Lakewood Asset Management LLC grew its stake in shares of 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 acquiring an additional 60 shares during the period. Magnolia Capital Advisors LLC boosted its position in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 shares during the period. Barden Capital Management Inc. increased its stake in shares of Diamondback Energy by 1.5% in the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares in the last quarter. Greenleaf Trust raised its position 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 valued at $1,129,000 after purchasing an additional 66 shares during the period. Finally, Buckhead Capital Management LLC lifted its stake in shares of Diamondback Energy by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after buying an additional 67 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FANG. Truist Financial increased their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Barclays decreased their target price on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Mizuho increased their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Finally, Williams Trading set a $190.00 target price on shares of Diamondback Energy in a report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.33.

Diamondback Energy Price Performance

FANG stock opened at $160.87 on Wednesday. The stock has a market cap of $46.56 billion, a PE ratio of 9.21, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The company has a 50-day moving average price of $157.93 and a 200 day moving average price of $169.57. 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 (NASDAQ:FANG) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.49%. The ex-dividend date was 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%.

Diamondback Energy Company 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.