Park Place Capital Corp Has $1.08 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Park Place Capital Corp lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 49.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,581 shares of the oil and natural gas company’s stock after purchasing an additional 2,164 shares during the period. Park Place Capital Corp’s holdings in Diamondback Energy were worth $1,078,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Simon Quick Advisors LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at $202,000. MCF Advisors LLC lifted its stake in shares of Diamondback Energy by 24.2% in the 4th quarter. MCF Advisors LLC now owns 1,523 shares of the oil and natural gas company’s stock valued at $249,000 after purchasing an additional 297 shares during the last quarter. Transform Wealth LLC lifted its stake in shares of Diamondback Energy by 85.7% in the 4th quarter. Transform Wealth LLC now owns 3,805 shares of the oil and natural gas company’s stock valued at $623,000 after purchasing an additional 1,756 shares during the last quarter. UMB Bank n.a. lifted its stake 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 purchasing an additional 136 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at $384,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $175.85 on Wednesday. The firm has a market cap of $51.35 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 1.48 and a beta of 1.88. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $170.56 and its two-hundred day moving average price is $182.54.

Diamondback Energy (NASDAQ:FANG) last released 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 last year, the firm earned $5.49 earnings per share. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 15.59 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.05%. Diamondback Energy’s payout ratio is 20.61%.

Wall Street Analyst Weigh In

FANG has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Friday, January 3rd. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. Four research 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. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $214.17.

Insider Transactions at Diamondback Energy

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 shares were 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 directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.48% of the stock is owned by company 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.