Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Forte Capital LLC ADV

Forte Capital LLC ADV grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,198 shares of the oil and natural gas company’s stock after acquiring an additional 263 shares during the period. Forte Capital LLC ADV’s holdings in Diamondback Energy were worth $6,699,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sapient Capital LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $599,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Diamondback Energy by 17.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,331 shares of the oil and natural gas company’s stock valued at $982,000 after acquiring an additional 930 shares during the period. Amalgamated Bank lifted its position in shares of Diamondback Energy by 6.0% during the 4th quarter. Amalgamated Bank now owns 51,410 shares of the oil and natural gas company’s stock valued at $7,973,000 after acquiring an additional 2,912 shares during the period. SRS Capital Advisors Inc. lifted its position in shares of Diamondback Energy by 50.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,443 shares of the oil and natural gas company’s stock valued at $379,000 after acquiring an additional 814 shares during the period. Finally, Natixis Advisors L.P. raised its position in shares of Diamondback Energy by 20.6% during the 4th quarter. Natixis Advisors L.P. now owns 137,494 shares of the oil and natural gas company’s stock worth $21,322,000 after purchasing an additional 23,462 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on FANG. Evercore ISI increased their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Scotiabank boosted their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. BMO Capital Markets upped their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a report on Tuesday, February 13th. Truist Financial lifted their price target on shares of Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $195.00 price objective on shares of Diamondback Energy in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $204.37.

Diamondback Energy Stock Up 2.0 %

Shares of FANG traded up $3.87 during midday trading on Friday, reaching $201.50. 1,873,837 shares of the company were exchanged, compared to its average volume of 1,530,138. The stock has a 50-day moving average price of $195.49 and a 200-day moving average price of $170.81. The company has a market cap of $35.94 billion, a price-to-earnings ratio of 11.36 and a beta of 1.91. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96. The company has a current ratio of 0.92, a quick ratio of 0.74 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.10 earnings per share. Research analysts expect that Diamondback Energy, Inc. will post 18.91 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s payout ratio is 20.29%.

Insider Transactions at Diamondback Energy

In other news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction that occurred 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 directly owns 96,523 shares in the company, valued at $18,532,416. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction that occurred 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 directly owns 96,523 shares in the company, valued at $18,532,416. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by 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.