Fulcrum Capital LLC Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Fulcrum Capital LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,226 shares of the oil and natural gas company’s stock after purchasing an additional 56 shares during the period. Fulcrum Capital LLC’s holdings in Diamondback Energy were worth $4,866,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FANG. First Community Trust NA purchased a new position in shares of Diamondback Energy during the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC grew its position in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the second quarter valued at about $40,000. Founders Capital Management grew its position in shares of Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares in the last quarter. Finally, CVA Family Office LLC grew its position in shares of Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $181.12 on Thursday. The company has a 50 day moving average price of $185.42 and a 200-day moving average price of $194.34. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a market capitalization of $32.30 billion, a PE ratio of 10.21, a P/E/G ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. Diamondback Energy’s revenue was up 29.4% compared to the same quarter last year. During the same period last year, the company posted $3.68 earnings per share. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a dividend of $2.34 per share. This represents a yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FANG shares. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Evercore ISI lowered their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Morgan Stanley increased their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. UBS Group lowered their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Truist Financial increased their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

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.