Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Concord Wealth Partners

Concord Wealth Partners raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,334 shares of the oil and natural gas company’s stock after purchasing an additional 402 shares during the quarter. Concord Wealth Partners’ holdings in Diamondback Energy were worth $710,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FANG. R Squared Ltd acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $29,000. UMB Bank n.a. increased its holdings in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at approximately $42,000. CVA Family Office LLC boosted its stake 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 during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Diamondback Energy during the third quarter worth approximately $52,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Diamondback Energy 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 transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Down 3.6 %

Diamondback Energy stock opened at $164.36 on Friday. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $47.99 billion, a price-to-earnings ratio of 9.41, a P/E/G ratio of 1.33 and a beta of 1.88. The company has a 50 day moving average price of $169.40 and a 200 day moving average price of $181.33.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.49 earnings per share. Research analysts forecast that Diamondback Energy, Inc. will post 15.55 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.19%. Diamondback Energy’s payout ratio is 20.61%.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research reports. KeyCorp cut their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price target for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Mizuho decreased their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. increased their target price 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, Scotiabank decreased their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four equities 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.00.

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.