Steward Partners Investment Advisory LLC Purchases 5,336 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Steward Partners Investment Advisory LLC boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,876 shares of the oil and natural gas company’s stock after buying an additional 5,336 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Diamondback Energy were worth $12,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. US Bancorp DE grew its holdings in shares of Diamondback Energy by 1.9% during the third quarter. US Bancorp DE now owns 25,715 shares of the oil and natural gas company’s stock worth $4,433,000 after purchasing an additional 472 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Diamondback Energy by 136.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,822 shares of the oil and natural gas company’s stock worth $314,000 after acquiring an additional 1,052 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Diamondback Energy by 8.0% during the third quarter. Janney Montgomery Scott LLC now owns 168,087 shares of the oil and natural gas company’s stock worth $28,978,000 after purchasing an additional 12,521 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Diamondback Energy by 5.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 33,064 shares of the oil and natural gas company’s stock worth $5,700,000 after buying an additional 1,752 shares during the last quarter. Finally, KG&L Capital Management LLC purchased a new stake in Diamondback Energy in the third quarter worth approximately $369,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FANG. Piper Sandler lowered their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. UBS Group upped their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a report on Friday, January 3rd. Finally, Truist Financial raised their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.09.

Diamondback Energy Stock Down 2.0 %

Shares of Diamondback Energy stock opened at $145.04 on Wednesday. Diamondback Energy, Inc. has a 1 year low of $140.81 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a 50-day moving average of $165.00 and a 200 day moving average of $174.34. The firm has a market cap of $41.98 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a dividend of $1.00 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.76%. Diamondback Energy’s payout ratio is presently 25.32%.

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.