Larson Financial Group LLC Buys 13,426 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Larson Financial Group LLC grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 748.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,221 shares of the oil and natural gas company’s stock after acquiring an additional 13,426 shares during the quarter. Larson Financial Group LLC’s holdings in Diamondback Energy were worth $2,361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Illinois Municipal Retirement Fund increased its holdings in shares of Diamondback Energy by 3.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 96,409 shares of the oil and natural gas company’s stock valued at $14,951,000 after acquiring an additional 3,532 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at $4,637,000. MCF Advisors LLC boosted its position in shares of Diamondback Energy by 8.6% during the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after buying an additional 67 shares during the last quarter. EFG Asset Management Americas Corp. boosted its position in shares of Diamondback Energy by 1.5% during the fourth quarter. EFG Asset Management Americas Corp. now owns 41,451 shares of the oil and natural gas company’s stock valued at $6,428,000 after buying an additional 620 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Diamondback Energy by 1.8% during the fourth quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock valued at $3,058,000 after buying an additional 354 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $1.84 during trading hours on Monday, reaching $202.58. 1,416,097 shares of the company traded hands, compared to its average volume of 1,755,888. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The company has a market cap of $36.13 billion, a P/E ratio of 11.68 and a beta of 1.93. The firm has a 50-day moving average price of $190.63 and a 200 day moving average price of $168.24.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.29 EPS. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 18.53 earnings per share for the current fiscal 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 paid a dividend of $3.08 per share. This represents a $12.32 annualized dividend and a yield of 6.08%. The ex-dividend date was Monday, March 4th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is 20.76%.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy 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 sale, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent analyst reports. Raymond James dropped their price objective on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Truist Financial increased their price objective on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research report on Monday. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $129.00 to $170.00 in a research report on Monday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Monday, March 4th. Finally, Barclays assumed coverage on Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.26.

About Diamondback Energy

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.