Headlands Technologies LLC Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Headlands Technologies LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 125.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 824 shares of the oil and natural gas company’s stock after acquiring an additional 459 shares during the quarter. Headlands Technologies LLC’s holdings in Diamondback Energy were worth $128,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $27,000. BluePath Capital Management LLC acquired a new stake in Diamondback Energy during the third quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $34,000. CVA Family Office LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $35,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Diamondback Energy by 559.0% in the third 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 acquiring an additional 218 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FANG. Piper Sandler raised their price objective on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Scotiabank lifted their price target on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Evercore ISI increased their price objective on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, March 25th. UBS Group lifted their target price on shares of Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Barclays initiated coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $202.53.

Diamondback Energy Stock Down 0.9 %

FANG opened at $205.86 on Tuesday. The business’s fifty day simple moving average is $193.78 and its 200 day simple moving average is $169.96. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The firm has a market cap of $36.71 billion, a P/E ratio of 11.87 and a beta of 1.93. 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:FANG) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating 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 previous year, the business posted $5.29 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 18.83 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were given a $3.08 dividend. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a dividend yield of 5.98%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s payout ratio is currently 20.76%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The sale was disclosed in a filing 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 shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of 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. Over the last ninety days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by insiders.

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.