Gallacher Capital Management LLC Has $616,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Gallacher Capital Management LLC lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,760 shares of the oil and natural gas company’s stock after selling 447 shares during the quarter. Gallacher Capital Management LLC’s holdings in Diamondback Energy were worth $616,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in shares of 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 last quarter. Geode Capital Management LLC increased its stake in Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after buying an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after buying an additional 502,916 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after acquiring an additional 658,644 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position 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 valued at $466,259,000 after acquiring an additional 230,689 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 3.0 %

NASDAQ FANG opened at $150.20 on Friday. 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 $43.47 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 1.24 and a beta of 1.84. The company has a 50 day moving average of $162.00 and a 200-day moving average of $171.69. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is 25.32%.

Wall Street Analyst Weigh In

Several research firms have weighed in on FANG. Citigroup lowered Diamondback Energy from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday. Truist Financial boosted their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Wolfe Research upgraded 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, Mizuho boosted their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given 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 a consensus target price of $211.92.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction on 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 purchase, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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.