Diversified Trust Co Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Diversified Trust Co boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,348 shares of the oil and natural gas company’s stock after acquiring an additional 513 shares during the period. Diversified Trust Co’s holdings in Diamondback Energy were worth $5,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. 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 bought a new stake in Diamondback Energy in the 2nd quarter worth approximately $40,000. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $42,000. CVA Family Office LLC boosted its position in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after purchasing an additional 136 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on FANG. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target for the company. Susquehanna reduced their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Piper Sandler lowered their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Raymond James increased their price target on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.83.

Diamondback Energy Stock Up 1.2 %

NASDAQ FANG traded up $1.99 during trading on Tuesday, reaching $171.63. 466,576 shares of the company’s stock traded hands, compared to its average volume of 1,570,055. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market cap of $50.11 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 1.21 and a beta of 1.88. The company’s 50 day simple moving average is $171.08 and its two-hundred day simple moving average is $184.43.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.49 earnings per share. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 16.28 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.48% of the stock is currently owned by company insiders.

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.