Kestra Private Wealth Services LLC Acquires 522 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Kestra Private Wealth Services LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,708 shares of the oil and natural gas company’s stock after buying an additional 522 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Diamondback Energy were worth $1,350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FANG. Wellington Management Group LLP grew its holdings in Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after buying an additional 648,317 shares in the last quarter. Morgan Stanley increased its holdings in Diamondback Energy by 2.6% during the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after acquiring an additional 89,663 shares during the period. Invesco Ltd. lifted its stake in Diamondback Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock worth $514,289,000 after purchasing an additional 206,189 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after purchasing an additional 858,446 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Diamondback Energy by 0.6% in the 3rd quarter. Northern Trust Corp now owns 1,999,579 shares of the oil and natural gas company’s stock valued at $309,695,000 after purchasing an additional 12,237 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 2.0 %

Shares of NASDAQ:FANG opened at $201.50 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.74 and a current ratio of 0.92. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The firm has a market capitalization of $35.94 billion, a P/E ratio of 11.36 and a beta of 1.91. The stock has a 50 day moving average price of $194.99 and a 200-day moving average price of $170.58.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business posted $4.10 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 18.96 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. Diamondback Energy’s payout ratio is currently 20.29%.

Insider Activity at Diamondback Energy

In other news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the transaction, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now owns 8,485 shares in the company, valued at $1,632,089.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.94, for a total transaction of $969,700.00. Following the completion of the transaction, the executive vice president now owns 44,445 shares of the company’s stock, valued at $8,619,663.30. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock valued at $11,311,096 in the last 90 days. Corporate insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FANG shares. Morgan Stanley decreased their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Truist Financial upped their target price on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Bank Of America (Bofa) lowered their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. Raymond James cut their price objective on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Finally, Stifel Nicolaus upped their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.37.

Diamondback Energy Company 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.