Kestra Private Wealth Services LLC Acquires 845 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Kestra Private Wealth Services LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 11.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,186 shares of the oil and natural gas company’s stock after buying an additional 845 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Diamondback Energy were worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Hussman Strategic Advisors Inc. bought a new position in shares of Diamondback Energy during the third quarter worth about $1,626,000. Summit Financial LLC grew its holdings in shares of Diamondback Energy by 6.4% during the third quarter. Summit Financial LLC now owns 7,957 shares of the oil and natural gas company’s stock worth $1,232,000 after buying an additional 479 shares in the last quarter. ABLE Financial Group LLC grew its holdings in shares of Diamondback Energy by 192.7% during the third quarter. ABLE Financial Group LLC now owns 4,780 shares of the oil and natural gas company’s stock worth $740,000 after buying an additional 3,147 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of Diamondback Energy by 19.9% during the third quarter. Chartwell Investment Partners LLC now owns 107,308 shares of the oil and natural gas company’s stock worth $16,620,000 after buying an additional 17,801 shares in the last quarter. Finally, Americana Partners LLC bought a new position in shares of Diamondback Energy during the third quarter worth about $279,000. 87.84% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $150.22 on Monday. The stock has a market cap of $26.89 billion, a P/E ratio of 8.53, a PEG ratio of 0.37 and a beta of 1.89. The stock has a 50 day simple moving average of $153.56 and a 200 day simple moving average of $153.92. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a 1-year low of $119.01 and a 1-year high of $171.40.

Diamondback Energy (NASDAQ:FANGGet Free Report) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $5.49 earnings per share for the quarter, beating the consensus estimate of $4.90 by $0.59. Diamondback Energy had a return on equity of 20.66% and a net margin of 38.84%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm earned $6.48 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 18.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FANG shares. Piper Sandler decreased their price objective on Diamondback Energy from $206.00 to $201.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Truist Financial raised their price target on Diamondback Energy from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Bank Of America (Bofa) decreased their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research note on Thursday, January 18th. Morgan Stanley decreased their price target on Diamondback Energy from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Finally, KeyCorp decreased their price target on Diamondback Energy from $183.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.12.

Read Our Latest Stock Analysis on Diamondback Energy

Diamondback Energy Profile

(Free Report)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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