Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Stonebrook Private Inc.

Stonebrook Private Inc. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,812 shares of the oil and natural gas company’s stock after acquiring an additional 106 shares during the period. Stonebrook Private Inc.’s holdings in Diamondback Energy were worth $657,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FANG. First Community Trust NA purchased a new stake in shares of Diamondback Energy during the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC raised its holdings in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the 2nd quarter valued at about $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy during the 3rd quarter worth approximately $42,000. Finally, Founders Capital Management increased its holdings in Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 1.4 %

Shares of Diamondback Energy stock opened at $185.29 on Friday. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The stock has a 50-day moving average price of $182.15 and a 200 day moving average price of $190.81. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $54.10 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.34 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business earned $5.49 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, analysts expect that Diamondback Energy, Inc. will post 16.35 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several analyst reports. Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. Citigroup started coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective on the stock. Truist Financial boosted their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. Finally, Wells Fargo & Company reiterated a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

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.