Westwood Holdings Group Inc. Increases Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Westwood Holdings Group Inc. boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,764 shares of the oil and natural gas company’s stock after purchasing an additional 546 shares during the period. Westwood Holdings Group Inc.’s holdings in Diamondback Energy were worth $3,356,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Founders Capital Management grew its holdings in shares of Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares during the period. First Community Trust NA purchased a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC grew its holdings in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Logan Capital Management Inc. purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley upped their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Sanford C. Bernstein reduced their target price on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Piper Sandler reduced their target price on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Finally, Benchmark restated a “buy” rating and issued a $154.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $209.71.

Diamondback Energy Price Performance

NASDAQ FANG opened at $181.00 on Monday. The business’s fifty day moving average price is $192.28 and its 200-day moving average price is $195.78. The stock has a market capitalization of $32.28 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.06 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company’s revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.68 EPS. On average, equities analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. This represents a dividend yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

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.