HighTower Advisors LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 17.0% during the 4th quarter, Holdings Channel reports. The firm owned 69,202 shares of the oil and natural gas company’s stock after selling 14,160 shares during the quarter. HighTower Advisors LLC’s holdings in Diamondback Energy were worth $10,403,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of FANG. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at $25,000. Richardson Financial Services Inc. grew its holdings in Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at $26,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy in the third quarter valued at $26,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in Diamondback Energy in the third quarter valued at $38,000. Institutional investors and hedge funds own 90.01% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on FANG shares. Piper Sandler upped their target price on Diamondback Energy from $215.00 to $248.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Truist Financial set a $242.00 target price on Diamondback Energy in a report on Wednesday, May 6th. Sanford C. Bernstein upped their target price on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Mizuho lifted their price objective on Diamondback Energy from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Finally, Roth Mkm reiterated a “neutral” rating and set a $205.00 price objective on shares of Diamondback Energy in a research report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $221.84.
Diamondback Energy Stock Performance
Diamondback Energy stock opened at $200.71 on Tuesday. The stock has a market cap of $56.46 billion, a PE ratio of 233.39 and a beta of 0.46. The stock has a 50-day moving average price of $194.64 and a 200 day moving average price of $170.53. Diamondback Energy, Inc. has a 52 week low of $133.75 and a 52 week high of $214.51. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the company earned $4.54 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that Diamondback Energy, Inc. will post 19.49 earnings per share for the current fiscal year.
Diamondback Energy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio is 511.63%.
Insider Transactions at Diamondback Energy
In other Diamondback Energy news, Director Steven E. West sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total value of $1,130,100.00. Following the sale, the director directly owned 4,484 shares of the company’s stock, valued at approximately $844,561.40. This trade represents a 57.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jere W. Thompson III sold 750 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $182.47, for a total value of $136,852.50. Following the completion of the sale, the chief financial officer directly owned 19,975 shares in the company, valued at approximately $3,644,838.25. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 174,321 shares of company stock worth $32,090,475 in the last quarter. 0.64% of the stock is currently owned by corporate insiders.
About Diamondback Energy
Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.
Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.
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