Larson Financial Group LLC Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Larson Financial Group LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,716 shares of the oil and natural gas company’s stock after buying an additional 1,517 shares during the period. Larson Financial Group LLC’s holdings in Diamondback Energy were worth $2,902,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FANG. Farther Finance Advisors LLC lifted its position in shares of Diamondback Energy by 136.6% in the third quarter. Farther Finance Advisors LLC now owns 1,822 shares of the oil and natural gas company’s stock worth $314,000 after buying an additional 1,052 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Diamondback Energy by 5.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 33,064 shares of the oil and natural gas company’s stock valued at $5,700,000 after purchasing an additional 1,752 shares during the period. Concurrent Investment Advisors LLC raised its position in Diamondback Energy by 68.9% during the third quarter. Concurrent Investment Advisors LLC now owns 5,320 shares of the oil and natural gas company’s stock valued at $917,000 after purchasing an additional 2,170 shares during the period. Portside Wealth Group LLC raised its position in Diamondback Energy by 6.3% during the third quarter. Portside Wealth Group LLC now owns 2,571 shares of the oil and natural gas company’s stock valued at $443,000 after purchasing an additional 153 shares during the period. Finally, Confluence Investment Management LLC raised its position in Diamondback Energy by 5.5% during the third quarter. Confluence Investment Management LLC now owns 3,867 shares of the oil and natural gas company’s stock valued at $667,000 after purchasing an additional 200 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 0.2 %

Shares of NASDAQ:FANG opened at $140.11 on Friday. Diamondback Energy, Inc. has a 52-week low of $138.94 and a 52-week high of $214.50. The stock has a market cap of $40.55 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The business’s 50 day moving average is $163.97 and its 200 day moving average is $173.39. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.85%. The ex-dividend date is Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Truist Financial upped their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Mizuho upped their target price on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Four 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.09.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.48% of the company’s stock.

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.