Kingsview Wealth Management LLC Has $8.19 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Kingsview Wealth Management LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,002 shares of the oil and natural gas company’s stock after acquiring an additional 5,432 shares during the period. Kingsview Wealth Management LLC’s holdings in Diamondback Energy were worth $8,192,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. raised its stake in shares of Diamondback Energy by 247.3% during 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 during the period. Values First Advisors Inc. purchased a new position in Diamondback Energy in the third quarter valued at about $42,000. CVA Family Office LLC grew its holdings in Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 65 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Diamondback Energy in the third quarter worth $52,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on FANG shares. Mizuho cut their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Truist Financial lifted their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Wolfe Research raised shares of 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $158.13 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52-week low of $151.25 and a 52-week high of $214.50. The company has a fifty day moving average of $167.54 and a 200-day moving average of $179.43. The stock has a market capitalization of $46.17 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.