abrdn plc Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

abrdn plc boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 70.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 75,333 shares of the oil and natural gas company’s stock after buying an additional 31,241 shares during the period. abrdn plc’s holdings in Diamondback Energy were worth $11,683,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BKM Wealth Management LLC bought a new stake in shares of Diamondback Energy in the 4th quarter worth about $27,000. BluePath Capital Management LLC bought a new stake in Diamondback Energy during the 3rd quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in Diamondback Energy during the 4th quarter valued at about $34,000. CVA Family Office LLC bought a new stake in Diamondback Energy during the 4th quarter valued at about $35,000. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in Diamondback Energy by 559.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after buying an additional 218 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,675 shares of company stock worth $11,311,096. Company insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FANG. BMO Capital Markets lifted their price objective on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a report on Tuesday, February 13th. Scotiabank raised their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Stifel Nicolaus raised their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group raised their target price on shares of Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley cut their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.53.

Diamondback Energy Stock Up 0.9 %

NASDAQ:FANG opened at $207.10 on Friday. The company has a market cap of $36.93 billion, a PE ratio of 11.94 and a beta of 1.93. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month 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 company’s 50 day moving average is $192.69 and its two-hundred day moving average is $169.13.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.13. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. Diamondback Energy’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.29 EPS. Analysts anticipate that Diamondback Energy, Inc. will post 18.84 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. This represents a $12.32 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s payout ratio is currently 20.76%.

Diamondback Energy 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.