Aspire Growth Partners LLC Buys New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

Aspire Growth Partners LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,568 shares of the oil and natural gas company’s stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its position in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc lifted its holdings in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at $38,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FANG shares. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Truist Financial raised their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Mizuho boosted their price objective on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Scotiabank dropped their target price on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Finally, Susquehanna decreased their price target on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $197.70.

Insiders Place Their Bets

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

Diamondback Energy Stock Up 1.5 %

Diamondback Energy stock opened at $136.81 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $40.23 billion, a P/E ratio of 7.83, a P/E/G ratio of 1.24 and a beta of 1.44. The firm has a 50 day moving average price of $142.89 and a 200-day moving average price of $161.10. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its 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. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.92%. Diamondback Energy’s dividend payout ratio is 25.32%.

About Diamondback Energy

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.