Fielder Capital Group LLC Takes $1.37 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Fielder Capital Group LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,809 shares of the oil and natural gas company’s stock, valued at approximately $1,366,000. Diamondback Energy makes up 0.8% of Fielder Capital Group LLC’s holdings, making the stock its 27th biggest holding.

Several other large investors have also made changes to their positions in FANG. Massachusetts Financial Services Co. MA grew its holdings in shares of Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after buying an additional 858,446 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $128,720,000. Wellington Management Group LLP grew its position in shares of Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after purchasing an additional 648,317 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Diamondback Energy by 143.0% in the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after purchasing an additional 577,514 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Diamondback Energy by 286.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock worth $92,380,000 after buying an additional 441,411 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on FANG shares. Evercore ISI lifted their price target on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Piper Sandler boosted their target price on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Stifel Nicolaus lifted their price target on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Truist Financial increased 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, April 22nd. Finally, Barclays started coverage on Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $205.68.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded down $0.51 during trading hours on Tuesday, reaching $203.68. The stock had a trading volume of 1,220,156 shares, compared to its average volume of 1,740,122. The firm has a market cap of $36.32 billion, a price-to-earnings ratio of 11.46 and a beta of 1.91. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The firm has a 50-day moving average of $196.03 and a 200-day moving average of $171.08. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

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

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be given a $0.90 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.77%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Buying and Selling at Diamondback Energy

In other news, 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 transaction of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the completion of the transaction, the vice president now owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, 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. In the last three months, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is owned by company 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.