3,325 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,325 shares of the oil and natural gas company’s stock, valued at approximately $545,000.

A number of other institutional investors also recently bought and sold shares of the business. AXA S.A. raised its holdings in shares of Diamondback Energy by 35.4% during the second quarter. AXA S.A. now owns 25,167 shares of the oil and natural gas company’s stock worth $5,038,000 after purchasing an additional 6,575 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at about $213,000. Magnolia Capital Advisors LLC raised its stake in shares of Diamondback Energy by 9.8% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 5,819 shares of the oil and natural gas company’s stock valued at $1,165,000 after buying an additional 518 shares during the last quarter. Creative Planning lifted its holdings in shares of Diamondback Energy by 2.6% in the 2nd quarter. Creative Planning now owns 33,387 shares of the oil and natural gas company’s stock valued at $6,684,000 after buying an additional 835 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Diamondback Energy by 79.0% in the second quarter. NewEdge Advisors LLC now owns 36,480 shares of the oil and natural gas company’s stock worth $7,303,000 after buying an additional 16,096 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target for the company. Truist Financial boosted their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Citigroup started coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Piper Sandler lowered their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. 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.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Price Performance

FANG stock opened at $171.60 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50. 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 firm has a market capitalization of $50.11 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The business has a 50 day simple moving average of $170.28 and a 200-day simple moving average of $181.97.

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). 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 during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $5.49 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.10%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the 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 transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is owned by 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.