Diamondback Energy, Inc. (NASDAQ:FANG) Stake Lessened by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,159 shares of the oil and natural gas company’s stock after selling 135 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Diamondback Energy were worth $354,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. grew its stake in Diamondback Energy by 14.7% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,270 shares of the oil and natural gas company’s stock valued at $208,000 after acquiring an additional 163 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Diamondback Energy by 34.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,866 shares of the oil and natural gas company’s stock worth $306,000 after purchasing an additional 473 shares during the period. Assenagon Asset Management S.A. grew its position in Diamondback Energy by 1,153.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after purchasing an additional 1,042,505 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Diamondback Energy by 8.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,172 shares of the oil and natural gas company’s stock valued at $356,000 after buying an additional 167 shares during the period. Finally, Mayfair Advisory Group LLC lifted its position in Diamondback Energy by 10.9% in the 4th quarter. Mayfair Advisory Group LLC now owns 2,072 shares of the oil and natural gas company’s stock worth $339,000 after buying an additional 204 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $179.12 on Friday. Diamondback Energy, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50. The company’s 50-day moving average is $170.68 and its two-hundred day moving average is $183.43. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $52.30 billion, a PE ratio of 10.25, a PEG ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company earned $5.49 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Diamondback Energy, Inc. will post 16.08 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.01%. Diamondback Energy’s dividend payout ratio is 20.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Evercore ISI dropped their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. KeyCorp reduced their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Citigroup assumed coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price for the company. Truist Financial upped their target price on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Mizuho lowered their target price on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $210.08.

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.