HB Wealth Management LLC Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

HB Wealth Management LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,225 shares of the oil and natural gas company’s stock after purchasing an additional 132 shares during the quarter. HB Wealth Management LLC’s holdings in Diamondback Energy were worth $345,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC raised its stake in Diamondback Energy by 3.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock valued at $278,000 after purchasing an additional 64 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Diamondback Energy by 1.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after buying an additional 64 shares in the last quarter. Veracity Capital LLC raised its position in shares of Diamondback Energy by 3.5% in the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 70 shares during the last quarter. Moody National Bank Trust Division boosted its position in Diamondback Energy by 0.8% during the third quarter. Moody National Bank Trust Division now owns 9,231 shares of the oil and natural gas company’s stock worth $1,430,000 after acquiring an additional 76 shares during the last quarter. Finally, Simmons Bank grew its stake in Diamondback Energy by 1.2% in the 3rd quarter. Simmons Bank now owns 6,564 shares of the oil and natural gas company’s stock worth $1,017,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

FANG opened at $198.17 on Friday. The business’s 50 day moving average is $172.86 and its 200-day moving average is $161.89. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The stock has a market cap of $35.36 billion, a PE ratio of 11.43 and a beta of 1.92. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $198.53.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $5.29 earnings per share. On average, analysts predict that Diamondback Energy, Inc. will post 17.93 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.76%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the transaction, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the sale, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The disclosure for this sale can be found here. In the last three months, insiders sold 27,675 shares of company stock valued at $5,311,096. 0.43% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Diamondback Energy from $192.00 to $224.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Bank of America raised shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. UBS Group upped their price target on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Susquehanna boosted their price objective on shares of Diamondback Energy from $190.00 to $195.00 and gave the company a “positive” rating in a research note on Tuesday, February 13th. Finally, KeyCorp raised their price objective on Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.11.

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.