Briaud Financial Planning Inc Invests $57,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Briaud Financial Planning Inc bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 348 shares of the oil and natural gas company’s stock, valued at approximately $57,000.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Diamondback Energy during the 4th quarter worth $29,000. UMB Bank n.a. raised its stake in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc raised its stake in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares during the period. Ashton Thomas Securities LLC bought a new stake in Diamondback Energy in the 3rd quarter valued at about $52,000. Finally, Smithfield Trust Co raised its stake in Diamondback Energy by 37.8% in the 4th quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 85 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 0.3 %

Shares of FANG opened at $140.58 on Tuesday. The firm has a market cap of $40.69 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.24 and a beta of 1.85. The stock has a 50 day simple moving average of $163.56 and a two-hundred day simple moving average of $172.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a $1.00 dividend. The ex-dividend date is Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.85%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FANG has been the topic of a number of research reports. Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. Truist Financial boosted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average 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.