By otakuyassine3@gmail.com 
Heck Capital Advisors LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,171 shares of the oil and natural gas company’s stock, valued at approximately $847,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares during the last quarter. Benjamin Edwards Inc. increased its position in Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after acquiring an additional 7,694 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Diamondback Energy during the fourth quarter worth $1,053,000. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Finally, Atria Investments Inc increased its holdings in Diamondback Energy by 18.5% in the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after purchasing an additional 6,672 shares during the period. Institutional investors own 90.01% of the company’s stock.
Diamondback Energy Trading Down 3.6 %
Shares of Diamondback Energy stock opened at $164.36 on Friday. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $47.99 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 1.33 and a beta of 1.88. The company’s 50-day moving average price is $169.40 and its 200-day moving average price is $181.33.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.49 EPS. On average, equities analysts expect that Diamondback Energy, Inc. will post 15.55 earnings per share for the current fiscal year.
Diamondback Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.
Insiders Place Their Bets
In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.48% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FANG. Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price target for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Mizuho dropped their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Scotiabank dropped their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $215.00.
View Our Latest Report on FANG
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.
Read More
Receive News & Ratings for Diamondback Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Diamondback Energy and related companies with MarketBeat.com’s FREE daily email newsletter.