Armstrong Advisory Group Inc. Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Armstrong Advisory Group Inc. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,270 shares of the oil and natural gas company’s stock after acquiring an additional 163 shares during the period. Armstrong Advisory Group Inc.’s holdings in Diamondback Energy were worth $208,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC increased its position 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 purchasing an additional 55 shares during the last quarter. Values First Advisors Inc. bought a new position in Diamondback Energy during the third quarter valued at approximately $42,000. CVA Family Office LLC boosted its stake in shares of Diamondback Energy by 28.1% in 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 purchasing an additional 65 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy during the third quarter valued at approximately $52,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FANG. KeyCorp lowered their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Piper Sandler dropped their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Raymond James raised their target price on Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 19th. Susquehanna lowered their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.08.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

FANG opened at $179.12 on Friday. Diamondback Energy, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50. The stock has a 50-day moving average price of $170.68 and a 200-day moving average price of $183.43. The firm has a market cap of $52.30 billion, a PE ratio of 10.25, a P/E/G ratio of 1.33 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results 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 firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.49 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 16.08 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.01%. Diamondback Energy’s dividend payout ratio is 20.61%.

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.