MCF Advisors LLC Acquires 297 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

MCF Advisors LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 24.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,523 shares of the oil and natural gas company’s stock after purchasing an additional 297 shares during the quarter. MCF Advisors LLC’s holdings in Diamondback Energy were worth $249,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FANG. UMB Bank n.a. grew its stake in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $42,000. CVA Family Office LLC raised its position in Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its holdings in Diamondback Energy by 109.7% during 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 purchasing an additional 136 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter worth approximately $52,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FANG shares. Mizuho cut their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, December 16th. 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 report on Tuesday, December 17th. UBS Group cut their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have issued 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 price target of $214.17.

Insider Activity

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 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 directly owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Price Performance

NASDAQ FANG opened at $176.95 on Wednesday. The company has a market capitalization of $51.67 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.48 and a beta of 1.88. The firm’s 50 day moving average is $170.62 and its 200-day moving average is $182.73. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $5.49 EPS. The business’s revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.57 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Diamondback Energy 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.