Diamondback Energy, Inc. (NASDAQ:FANG) Position Boosted by Wedmont Private Capital

Wedmont Private Capital lifted its position in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,817 shares of the oil and natural gas company’s stock after buying an additional 367 shares during the quarter. Wedmont Private Capital’s holdings in Diamondback Energy were worth $439,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after buying an additional 648,317 shares in the last quarter. State Street Corp grew its stake in shares of Diamondback Energy by 1.0% in the 1st quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock valued at $1,575,653,000 after buying an additional 112,297 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,968,392 shares of the oil and natural gas company’s stock valued at $519,995,000 after buying an additional 48,467 shares in the last quarter. Morgan Stanley grew its stake in shares of Diamondback Energy by 2.5% in the 4th quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock valued at $488,590,000 after buying an additional 85,618 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Diamondback Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock worth $514,289,000 after purchasing an additional 206,189 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Diamondback Energy Trading Up 0.1 %

NASDAQ FANG opened at $190.06 on Tuesday. The firm has a market cap of $33.92 billion, a P/E ratio of 10.96, a P/E/G ratio of 0.49 and a beta of 1.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The stock’s 50-day moving average is $166.91 and its 200-day moving average is $159.99. Diamondback Energy, Inc. has a one year low of $121.84 and a one year high of $191.38.

Diamondback Energy (NASDAQ:FANGGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. Diamondback Energy’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $5.29 earnings per share. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 17.74 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a yield of 6.48%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.76%.

Analyst Upgrades and Downgrades

FANG has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. Susquehanna upped their price target on Diamondback Energy from $190.00 to $195.00 and gave the stock a “positive” rating in a report on Tuesday, February 13th. KeyCorp upped their price target on Diamondback Energy from $170.00 to $186.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Bank of America upgraded Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $129.00 to $170.00 in a report on Monday, February 12th. Finally, Wells Fargo & Company cut their price target on Diamondback Energy from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $184.67.

View Our Latest Stock Analysis on FANG

About Diamondback Energy

(Free Report)

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.

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

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