KFG Wealth Management LLC Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

KFG Wealth Management LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,645 shares of the oil and natural gas company’s stock after acquiring an additional 275 shares during the period. KFG Wealth Management LLC’s holdings in Diamondback Energy were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Financial Advocates Investment Management raised its holdings in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after buying an additional 55 shares during the period. Greenup Street Wealth Management LLC raised its holdings in Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after buying an additional 60 shares during the period. Lakewood Asset Management LLC raised its holdings in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after buying an additional 60 shares during the period. West Family Investments Inc. raised its holdings in Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 61 shares during the period. Finally, CVA Family Office LLC raised its holdings in Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 1.9 %

Shares of NASDAQ:FANG opened at $173.26 on Monday. Diamondback Energy, Inc. has a 52-week low of $147.93 and a 52-week high of $214.50. The stock has a market cap of $50.59 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 1.44 and a beta of 1.88. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $170.28 and a 200-day moving average price of $182.11.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.49 earnings per share. Equities analysts predict that Diamondback Energy, Inc. will post 15.58 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on FANG shares. JPMorgan Chase & Co. upped their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday. Raymond James upped their price objective on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday. UBS Group cut their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Finally, KeyCorp dropped their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.00.

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.