Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,889 shares of the oil and natural gas company’s stock after purchasing an additional 72 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Diamondback Energy were worth $309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. UMB Bank n.a. grew its position in 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 valued at $31,000 after acquiring an additional 136 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter valued at $42,000. CVA Family Office LLC increased its stake in 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 worth $51,000 after buying an additional 65 shares during the period. Ashton Thomas Securities LLC acquired a new position in Diamondback Energy in the 3rd quarter worth $52,000. Finally, Mattson Financial Services LLC purchased a new position in Diamondback Energy in the 2nd quarter valued at about $74,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FANG shares. Truist Financial lifted their price objective on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho cut their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Susquehanna decreased their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a report on Friday, October 18th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Finally, KeyCorp decreased their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Diamondback Energy Price Performance

NASDAQ FANG opened at $171.60 on Tuesday. The company has a 50 day simple moving average of $170.28 and a 200-day simple moving average of $181.97. Diamondback Energy, Inc. has a 52-week low of $147.93 and a 52-week high of $214.50. The firm has a market capitalization of $50.11 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 1.44 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 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 company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $5.49 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts predict that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

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 2.10%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were 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 approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by corporate insiders.

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.