Peterson Wealth Services Buys New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

Peterson Wealth Services purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,332 shares of the oil and natural gas company’s stock, valued at approximately $1,912,000.

Several other institutional investors also recently modified their holdings of FANG. Patriot Financial Group Insurance Agency LLC increased its position in shares of Diamondback Energy by 3.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock worth $278,000 after acquiring an additional 64 shares in the last quarter. Coldstream Capital Management Inc. grew its position in Diamondback Energy by 1.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after purchasing an additional 64 shares in the last quarter. Veracity Capital LLC raised its stake in Diamondback Energy by 3.5% during the 3rd quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 70 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Diamondback Energy by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after purchasing an additional 75 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its position in shares of Diamondback Energy by 2.5% in the fourth quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after buying an additional 75 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.0 %

FANG stock traded up $0.05 during trading on Thursday, hitting $201.20. The company had a trading volume of 234,140 shares, compared to its average volume of 1,748,354. The firm has a 50-day moving average price of $188.00 and a 200-day moving average price of $166.98. The stock has a market cap of $35.88 billion, a price-to-earnings ratio of 11.60 and a beta of 1.93. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.13. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.29 EPS. As a group, analysts predict that Diamondback Energy, Inc. will post 18.52 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a yield of 6.12%. Diamondback Energy’s dividend payout ratio is presently 20.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FANG. Evercore ISI upped their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Stifel Nicolaus increased their price target on shares of Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Susquehanna upped their price objective on shares of Diamondback Energy from $190.00 to $195.00 and gave the stock a “positive” rating in a report on Tuesday, February 13th. Truist Financial reduced their price target on Diamondback Energy from $250.00 to $248.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Scotiabank boosted their target price on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $195.95.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the transaction, the vice president now directly owns 8,485 shares in the company, valued at $1,632,089.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the transaction, the vice president now directly owns 8,485 shares in the company, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 in the last three months. Insiders own 0.43% of the company’s stock.

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.