Wesbanco Bank Inc. Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Wesbanco Bank Inc. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,765 shares of the oil and natural gas company’s stock after acquiring an additional 9,010 shares during the period. Wesbanco Bank Inc.’s holdings in Diamondback Energy were worth $13,887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at about $42,000. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of 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 buying an additional 136 shares in the last quarter. CVA Family Office LLC raised its holdings 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 buying an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FANG. Truist Financial raised their price objective on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citigroup began 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. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Susquehanna reduced their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, Evercore ISI reduced their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.17.

Diamondback Energy Stock Up 0.4 %

FANG stock opened at $177.59 on Thursday. Diamondback Energy, Inc. has a 1-year low of $147.93 and a 1-year high of $214.50. The business has a fifty day moving average price of $170.56 and a 200-day moving average price of $182.54. 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 stock has a market capitalization of $51.85 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.44 and a beta of 1.88.

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 the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the firm earned $5.49 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts forecast that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. 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 currently 20.61%.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by corporate 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.