Benedict Financial Advisors Inc. Acquires 4,047 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Benedict Financial Advisors Inc. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 25.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,900 shares of the oil and natural gas company’s stock after buying an additional 4,047 shares during the period. Benedict Financial Advisors Inc.’s holdings in Diamondback Energy were worth $3,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its stake in shares of Diamondback Energy by 1,153.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after acquiring an additional 1,042,505 shares in the last quarter. Zimmer Partners LP bought a new stake in Diamondback Energy during the 3rd quarter valued at $87,924,000. Holocene Advisors LP lifted its holdings in shares of Diamondback Energy by 95.3% in the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after buying an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after buying an additional 439,579 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Diamondback Energy by 17,151.2% during the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after buying an additional 338,050 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction 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 sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 1.2 %

Shares of FANG stock opened at $158.13 on Friday. Diamondback Energy, Inc. has a 1-year low of $151.25 and a 1-year high of $214.50. The firm has a market cap of $46.17 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a 50-day moving average of $167.54 and a two-hundred day moving average of $179.43. 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 Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.28%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Analyst Ratings Changes

FANG has been the subject of a number of research reports. Citigroup started coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. KeyCorp reduced their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Truist Financial upped their target price on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company boosted their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Four investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.00.

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.