Turtle Creek Wealth Advisors LLC Acquires New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

Turtle Creek Wealth Advisors LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 219 shares of the oil and natural gas company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new stake in Diamondback Energy in the fourth quarter valued at about $27,000. BluePath Capital Management LLC bought a new stake in shares of Diamondback Energy in the third quarter worth about $28,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Diamondback Energy in the third quarter worth about $32,000. FinTrust Capital Advisors LLC increased its holdings in shares of Diamondback Energy by 232.8% in the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC increased its holdings in shares of Diamondback Energy by 366.7% in the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 176 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy 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 in the company, valued at approximately $15,031,153.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at $35,470,003.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,675 shares of company stock worth $11,311,096. Insiders own 0.43% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $206.34 on Friday. The business’s 50 day moving average is $184.85 and its 200-day moving average is $165.91. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96. 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 firm has a market cap of $36.80 billion, a P/E ratio of 11.90 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company earned $5.29 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Equities research analysts predict that Diamondback Energy, Inc. will post 18.52 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a $3.08 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a dividend yield of 5.97%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Analysts Set New Price Targets

Several brokerages have issued reports on FANG. Piper Sandler increased their price target on Diamondback Energy from $222.00 to $227.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Raymond James reduced their price objective on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Scotiabank upped their price objective on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Monday, March 4th. Finally, Truist Financial reduced their price objective on Diamondback Energy from $250.00 to $248.00 and set a “buy” rating for the company in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.05.

About Diamondback Energy

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.