Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by KFG Wealth Management LLC

KFG Wealth Management LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 20.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,645 shares of the oil and natural gas company’s stock after purchasing an additional 275 shares during the period. KFG Wealth Management LLC’s holdings in Diamondback Energy were worth $270,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp grew its holdings in Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after purchasing an additional 149,871 shares during the period. Geode Capital Management LLC boosted its stake in shares of Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after acquiring an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Diamondback Energy by 4.2% in the third quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock worth $195,714,000 after acquiring an additional 46,109 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday. Wells Fargo & Company lifted their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Mizuho reduced their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Evercore ISI reduced their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Finally, BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction 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 $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

FANG stock opened at $173.26 on Monday. 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 capitalization of $50.59 billion, a PE ratio of 9.92, a P/E/G ratio of 1.44 and a beta of 1.88. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The business’s fifty day moving average price is $170.28 and its 200 day moving average price is $182.11.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the firm posted $5.49 EPS. Diamondback Energy’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.58 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.08%. Diamondback Energy’s payout ratio is 20.61%.

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.