Aviso Wealth Management Has $269,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Aviso Wealth Management cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 53.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,642 shares of the oil and natural gas company’s stock after selling 1,868 shares during the period. Aviso Wealth Management’s holdings in Diamondback Energy were worth $269,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Wintrust Investments LLC acquired a new stake in Diamondback Energy during the fourth quarter worth about $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its stake in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Key Financial Inc lifted its position in Diamondback Energy by 940.0% in the fourth 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. Finally, Rakuten Securities Inc. boosted its stake in Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after buying an additional 106 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Piper Sandler cut their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Morgan Stanley upped their price objective on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $209.92.

Insider Activity

In related news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Up 0.4 %

NASDAQ:FANG opened at $161.60 on Wednesday. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50. The stock’s fifty day simple moving average is $159.82 and its 200-day simple moving average is $170.00. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $46.77 billion, a P/E ratio of 9.25, a P/E/G ratio of 1.24 and a beta of 1.85.

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

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is currently 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.