Inscription Capital LLC Raises Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Inscription Capital LLC boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,286 shares of the oil and natural gas company’s stock after purchasing an additional 84 shares during the period. Inscription Capital LLC’s holdings in Diamondback Energy were worth $510,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Raymond James Trust N.A. grew its position in Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock worth $1,860,000 after purchasing an additional 7,102 shares during the last quarter. Raymond James & Associates grew its position in Diamondback Energy by 143.0% during the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after purchasing an additional 577,514 shares during the last quarter. Czech National Bank grew its position in Diamondback Energy by 0.3% during the 4th quarter. Czech National Bank now owns 31,348 shares of the oil and natural gas company’s stock worth $4,861,000 after purchasing an additional 95 shares during the last quarter. Clarity Financial LLC acquired a new stake in Diamondback Energy during the 4th quarter valued at approximately $7,153,000. Finally, Regal Investment Advisors LLC lifted its stake in Diamondback Energy by 14.3% during the 3rd quarter. Regal Investment Advisors LLC now owns 25,332 shares of the oil and natural gas company’s stock valued at $3,923,000 after acquiring an additional 3,168 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $198.17 on Friday. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $198.53. The firm has a market capitalization of $35.36 billion, a price-to-earnings ratio of 11.43 and a beta of 1.92. The company has a fifty day simple moving average of $173.83 and a 200-day simple moving average of $162.14. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its earnings results 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. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $5.29 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 17.93 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Scotiabank lifted their price objective on shares of Diamondback Energy from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research note on Tuesday, February 13th. Raymond James decreased their target price on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Bank Of America (Bofa) decreased their target price on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research note on Thursday, January 18th. Susquehanna boosted their target price 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, Mizuho boosted their target price on shares of Diamondback Energy from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $190.11.

View Our Latest Analysis on FANG

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the transaction, the executive vice president now owns 44,445 shares of the company’s stock, valued at $8,619,663.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,675 shares of company stock valued at $5,311,096. 0.43% of the stock is owned by company insiders.

Diamondback Energy Profile

(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.

Further Reading

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

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