Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Foster & Motley Inc.

Foster & Motley Inc. boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,239 shares of the oil and natural gas company’s stock after buying an additional 551 shares during the period. Foster & Motley Inc.’s holdings in Diamondback Energy were worth $1,186,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after buying an additional 47,951 shares during the period. Benjamin Edwards Inc. increased its position in Diamondback Energy by 368.1% during the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after buying an additional 7,694 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Diamondback Energy in the 4th quarter valued at approximately $1,053,000. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Finally, Atria Investments Inc grew its stake in shares of Diamondback Energy by 18.5% in the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after purchasing an additional 6,672 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $170.41 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The stock has a market cap of $49.76 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The business has a fifty day moving average of $169.65 and a 200-day moving average of $181.40. 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 released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm earned $5.49 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. As a group, analysts predict that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.11%. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup assumed coverage on Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price on the stock. Piper Sandler lowered their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group assumed coverage on Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price on the stock. Four 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

About Diamondback Energy

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.