Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Center For Asset Management LLC

Center For Asset Management LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,976 shares of the oil and natural gas company’s stock after purchasing an additional 68 shares during the quarter. Center For Asset Management LLC’s holdings in Diamondback Energy were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in FANG. Franklin Resources Inc. increased its stake in Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares during the period. Benjamin Edwards Inc. increased its holdings in Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after buying an additional 7,694 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of Diamondback Energy during the 4th quarter valued at $1,053,000. Geode Capital Management LLC increased its holdings in shares of Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after acquiring an additional 266,299 shares during the last quarter. Finally, Atria Investments Inc raised its position in shares of 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 and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 1.9 %

FANG stock opened at $173.26 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The stock has a market capitalization of $50.59 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The firm has a 50 day moving average of $170.28 and a 200 day moving average of $182.11.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion for 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 quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.49 EPS. Sell-side analysts forecast that Diamondback Energy, Inc. will post 15.58 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FANG. UBS Group lowered their price target on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research report on Friday, January 3rd. KeyCorp reduced their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Thursday. Finally, Wells Fargo & Company boosted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

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.