Westwood Holdings Group Inc. Has $4.37 Million Position in Diamondback Energy, Inc. $FANG

Westwood Holdings Group Inc. increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,781 shares of the oil and natural gas company’s stock after buying an additional 1,685 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Diamondback Energy were worth $4,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Uhlmann Price Securities LLC increased its position in shares of Diamondback Energy by 1.3% during the second quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock valued at $699,000 after purchasing an additional 67 shares during the period. Mesirow Financial Investment Management Inc. increased its holdings in Diamondback Energy by 5.6% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock valued at $226,000 after buying an additional 75 shares during the period. FourThought Financial Partners LLC raised its stake in shares of Diamondback Energy by 2.9% in the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after buying an additional 78 shares in the last quarter. Biondo Investment Advisors LLC lifted its holdings in shares of Diamondback Energy by 0.3% during the 1st quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock worth $4,614,000 after acquiring an additional 80 shares during the period. Finally, STF Management LP lifted its holdings in shares of Diamondback Energy by 1.9% during the 2nd quarter. STF Management LP now owns 4,490 shares of the oil and natural gas company’s stock worth $617,000 after acquiring an additional 84 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on FANG. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Raymond James Financial dropped their target price on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a report on Wednesday, August 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 price target on shares of Diamondback Energy in a research note on Friday, October 10th. UBS Group upped their price target on Diamondback Energy from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Melius Research started coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $188.55.

Diamondback Energy Price Performance

Shares of FANG stock opened at $148.20 on Monday. The firm’s 50 day moving average price is $142.52 and its two-hundred day moving average price is $142.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.07. The stock has a market cap of $42.46 billion, a PE ratio of 10.27 and a beta of 0.99.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the prior year, the business posted $3.19 EPS. The firm’s quarterly revenue was up 48.4% on a year-over-year basis. As a group, analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.7%. Diamondback Energy’s dividend payout ratio is presently 27.80%.

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.