Silver Oak Securities Incorporated Raises Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Silver Oak Securities Incorporated boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1,839.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,386 shares of the oil and natural gas company’s stock after buying an additional 2,263 shares during the period. Silver Oak Securities Incorporated’s holdings in Diamondback Energy were worth $370,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Coldstream Capital Management Inc. grew its position 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 valued at $566,000 after purchasing an additional 64 shares in the last quarter. MCF Advisors LLC grew its position in shares of Diamondback Energy by 8.6% during the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 67 shares in the last quarter. Veracity Capital LLC grew its position in shares of Diamondback Energy by 3.5% during 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 purchasing an additional 70 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Diamondback Energy by 2.5% during the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after purchasing an additional 75 shares in the last quarter. Finally, Simplicity Solutions LLC grew its position in shares of Diamondback Energy by 2.5% during the fourth quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Stifel Nicolaus lifted their price target on Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Bank Of America (Bofa) dropped their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research report on Thursday, January 18th. BMO Capital Markets lifted their price target on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 13th. Finally, Truist Financial lifted their price target on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. One 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.53.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred 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 owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,675 shares of company stock valued at $11,311,096. Corporate insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Down 2.3 %

Shares of NASDAQ FANG opened at $201.13 on Wednesday. The firm has a 50-day simple moving average of $194.24 and a two-hundred day simple moving average of $170.21. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The company has a market cap of $35.87 billion, a P/E ratio of 11.60 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.27. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the firm posted $4.10 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. Research analysts anticipate that Diamondback Energy, Inc. will post 18.83 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. Diamondback Energy’s dividend payout ratio is presently 20.76%.

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.