Wealth Enhancement Advisory Services LLC Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Wealth Enhancement Advisory Services LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,608 shares of the oil and natural gas company’s stock after purchasing an additional 637 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Diamondback Energy were worth $2,863,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after purchasing an additional 7,694 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Diamondback Energy in the 4th quarter valued at about $1,053,000. Geode Capital Management LLC raised its holdings in 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 worth $793,611,000 after purchasing an additional 266,299 shares during the period. Finally, Atria Investments Inc boosted its position in Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after purchasing an additional 6,672 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy 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 sale, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FANG. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Truist Financial boosted their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. began coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective on the stock. Piper Sandler cut their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.08.

Diamondback Energy Stock Up 0.0 %

FANG stock opened at $177.68 on Wednesday. The firm has a market cap of $51.88 billion, a PE ratio of 10.17, a PEG ratio of 1.19 and a beta of 1.88. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm’s 50 day moving average price is $170.76 and its 200-day moving average price is $183.46.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.49 EPS. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 16.51 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

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.