Ashton Thomas Private Wealth LLC Buys 4,291 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Ashton Thomas Private Wealth LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 30.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,158 shares of the oil and natural gas company’s stock after acquiring an additional 4,291 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Diamondback Energy were worth $2,975,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. raised its stake in shares of Diamondback Energy by 38.4% in the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after acquiring an additional 3,238 shares in the last quarter. Swedbank AB raised its stake in shares of Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after acquiring an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after acquiring an additional 37,246 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after acquiring an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC raised its stake in shares of Diamondback Energy by 38.2% in the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after acquiring an additional 8,704 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

Shares of FANG stock opened at $140.11 on Friday. The stock’s fifty day simple moving average is $163.97 and its 200 day simple moving average is $173.50. 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 cap of $40.55 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a one year low of $138.94 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 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 analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be given a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.85%. Diamondback Energy’s payout ratio is presently 25.32%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler dropped their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Morgan Stanley lifted their price target on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. UBS Group lifted their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Raymond James lifted their price target on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $216.09.

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.