Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Alaethes Wealth LLC

Alaethes Wealth LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,899 shares of the oil and natural gas company’s stock after purchasing an additional 134 shares during the quarter. Alaethes Wealth LLC’s holdings in Diamondback Energy were worth $1,458,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of FANG. Wintrust Investments LLC acquired a new position in Diamondback Energy in the fourth quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. lifted its holdings 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 valued at $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc boosted its position 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 valued at $34,000 after purchasing an additional 188 shares during the period. Finally, Transce3nd LLC purchased a new position in Diamondback Energy in the 4th quarter worth about $38,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 1.5 %

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

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Research analysts forecast 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. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Bank of America raised Diamondback Energy from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $202.00 to $170.00 in a research report on Tuesday. Wells Fargo & Company lowered their price target on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Truist Financial increased their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and an average target price of $197.70.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

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.