Cary Street Partners Financial LLC Purchases New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

Cary Street Partners Financial LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, Holdings Channel reports. The firm acquired 336 shares of the oil and natural gas company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FANG. Wintrust Investments LLC acquired a new stake in Diamondback Energy in the 4th quarter worth about $28,000. R Squared Ltd acquired a new position in shares of Diamondback Energy during the 4th quarter worth approximately $29,000. UMB Bank n.a. increased its holdings in shares of Diamondback Energy by 247.3% during the fourth 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 during the period. Key Financial Inc raised its position in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 1.3%

Shares of NASDAQ FANG opened at $137.89 on Monday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a 50-day moving average of $141.07 and a 200 day moving average of $159.09. The stock has a market cap of $40.29 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue was up 81.8% on a year-over-year basis. During the same period last year, the company earned $4.50 earnings per share. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, May 15th. Diamondback Energy’s dividend payout ratio is currently 24.46%.

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 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Scotiabank dropped their price target on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Susquehanna reduced their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Truist Financial boosted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Evercore ISI assumed coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price target on the stock. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and a consensus target price of $195.57.

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.