F M Investments LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

F M Investments LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 9,044 shares of the oil and natural gas company’s stock, valued at approximately $1,403,000.

Other institutional investors have also recently modified their holdings of the company. Raymond James Trust N.A. grew its position in Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock worth $1,860,000 after acquiring an additional 7,102 shares during the last quarter. Larson Financial Group LLC grew its position in Diamondback Energy by 748.0% during the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after acquiring an additional 13,426 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Diamondback Energy by 613.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after acquiring an additional 13,243 shares during the last quarter. Raymond James & Associates grew its position in Diamondback Energy by 143.0% during the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after acquiring an additional 577,514 shares during the last quarter. Finally, Morgan Stanley grew its position in Diamondback Energy by 2.6% during the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after acquiring an additional 89,663 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho raised their price target on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Stifel Nicolaus raised their price target on Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore ISI lifted their price objective on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Barclays assumed coverage on Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective on the stock. Finally, Truist Financial lifted their price objective on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $202.53.

Diamondback Energy Stock Up 0.9 %

Shares of FANG traded up $1.79 on Tuesday, reaching $204.37. The stock had a trading volume of 960,299 shares, compared to its average volume of 1,745,681. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 11.79 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The company has a 50-day simple moving average of $191.41 and a 200-day simple moving average of $168.61. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.29 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 18.53 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 6.03%. Diamondback Energy’s payout ratio is presently 20.76%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, 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 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is owned by insiders.

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.