Arete Wealth Advisors LLC Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Arete Wealth Advisors LLC boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 924.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,773 shares of the oil and natural gas company’s stock after buying an additional 16,038 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Diamondback Energy were worth $2,911,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Erste Asset Management GmbH purchased a new position in Diamondback Energy in the 3rd quarter valued at approximately $1,066,000. Benjamin Edwards Inc. increased its position in shares of Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after buying an additional 7,694 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its position in shares of Diamondback Energy by 3.1% in the third quarter. Chevy Chase Trust Holdings LLC now owns 100,726 shares of the oil and natural gas company’s stock valued at $17,365,000 after buying an additional 3,054 shares in the last quarter. Hilltop Holdings Inc. acquired a new position in shares of Diamondback Energy during the 3rd quarter worth $224,000. Finally, Janus Henderson Group PLC boosted its position in shares of Diamondback Energy by 162.6% in the 3rd quarter. Janus Henderson Group PLC now owns 52,974 shares of the oil and natural gas company’s stock worth $9,130,000 after buying an additional 32,803 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on FANG shares. Royal Bank of Canada restated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Barclays cut their price target on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Mizuho increased their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Piper Sandler cut their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $209.33.

Diamondback Energy Trading Up 0.4 %

Shares of FANG opened at $161.49 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The stock has a market cap of $46.74 billion, a PE ratio of 9.24, a P/E/G ratio of 1.24 and a beta of 1.85. The stock’s 50-day moving average is $157.61 and its two-hundred day moving average is $169.51.

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

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

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.