Alaethes Wealth LLC Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Alaethes Wealth LLC grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,899 shares of the oil and natural gas company’s stock after purchasing an additional 134 shares during the period. Alaethes Wealth LLC’s holdings in Diamondback Energy were worth $1,458,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Lakewood Asset Management LLC boosted its position in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after purchasing an additional 60 shares during the period. Magnolia Capital Advisors LLC lifted its stake in shares of Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 shares in the last quarter. Barden Capital Management Inc. boosted its position in shares of Diamondback Energy by 1.5% in the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after buying an additional 64 shares during the period. Greenleaf Trust grew its stake in shares of Diamondback Energy by 1.0% in the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after buying an additional 66 shares in the last quarter. Finally, Buckhead Capital Management LLC raised its holdings in shares of Diamondback Energy by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FANG. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. UBS Group dropped their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Mizuho upped their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Finally, Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $197.70.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $136.81 on Friday. The company has a market cap of $40.23 billion, a PE ratio of 7.83, a P/E/G ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The firm has a 50-day simple moving average of $142.89 and a 200 day simple moving average of $161.10. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.92%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% 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.