RIA Advisory Group LLC Acquires New Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

RIA Advisory Group LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 4,237 shares of the oil and natural gas company’s stock, valued at approximately $657,000.

Several other institutional investors also recently bought and sold shares of the business. Cornerstone Investment Partners LLC increased its holdings in Diamondback Energy by 8.1% during the fourth quarter. Cornerstone Investment Partners LLC now owns 365,712 shares of the oil and natural gas company’s stock valued at $56,715,000 after buying an additional 27,439 shares during the period. Xponance Inc. increased its holdings in Diamondback Energy by 1.1% during the fourth quarter. Xponance Inc. now owns 22,060 shares of the oil and natural gas company’s stock valued at $3,421,000 after buying an additional 241 shares during the period. AIA Group Ltd purchased a new position in Diamondback Energy during the fourth quarter valued at approximately $1,361,000. Peterson Wealth Services purchased a new position in Diamondback Energy in the fourth quarter worth $1,912,000. Finally, Daiwa Securities Group Inc. grew its holdings in Diamondback Energy by 61.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 36,780 shares of the oil and natural gas company’s stock worth $5,703,000 after purchasing an additional 13,996 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

In other news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the sale, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the sale, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,675 shares of company stock valued at $11,311,096. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. KeyCorp lifted their price target on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Stifel Nicolaus lifted their price target on shares of Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Truist Financial cut their price target on shares of Diamondback Energy from $250.00 to $248.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Evercore ISI boosted their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Finally, BMO Capital Markets lifted their price objective on shares of Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $196.95.

Diamondback Energy Price Performance

FANG traded up $1.14 during trading on Friday, hitting $200.74. The company’s stock had a trading volume of 1,800,730 shares, compared to its average volume of 1,760,358. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96. The business’s fifty day simple moving average is $188.92 and its 200 day simple moving average is $167.21. The firm has a market capitalization of $35.80 billion, a price-to-earnings ratio of 11.65 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $5.29 earnings per share. Diamondback Energy’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 18.53 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were issued a $3.08 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 6.14%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

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.