Hodges Capital Management Inc. Grows Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Hodges Capital Management Inc. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,347 shares of the oil and natural gas company’s stock after buying an additional 120 shares during the period. Hodges Capital Management Inc.’s holdings in Diamondback Energy were worth $1,695,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Avenue Securities LLC increased its holdings in shares of Diamondback Energy by 8.0% in the 3rd quarter. Park Avenue Securities LLC now owns 5,740 shares of the oil and natural gas company’s stock valued at $990,000 after purchasing an additional 427 shares in the last quarter. Czech National Bank grew its position in Diamondback Energy by 12.3% during the third quarter. Czech National Bank now owns 38,166 shares of the oil and natural gas company’s stock worth $6,580,000 after buying an additional 4,180 shares during the period. GAMMA Investing LLC increased its holdings in Diamondback Energy by 22.9% in the third quarter. GAMMA Investing LLC now owns 3,484 shares of the oil and natural gas company’s stock valued at $601,000 after buying an additional 649 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of Diamondback Energy by 28.9% during the 3rd quarter. Fulton Bank N.A. now owns 3,437 shares of the oil and natural gas company’s stock valued at $593,000 after acquiring an additional 771 shares during the period. Finally, Camelot Technology Advisors Inc. boosted its stake in shares of Diamondback Energy by 8.7% during the 3rd quarter. Camelot Technology Advisors Inc. now owns 8,771 shares of the oil and natural gas company’s stock worth $1,512,000 after acquiring an additional 701 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated 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 sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Up 0.1 %

Diamondback Energy stock opened at $164.48 on Tuesday. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. 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 stock has a market cap of $48.03 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.28 and a beta of 1.86. The company’s fifty day simple moving average is $168.98 and its 200-day simple moving average is $180.59.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for 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 firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the business earned $5.49 earnings per share. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.5 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is presently 20.61%.

Wall Street Analyst Weigh In

FANG has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. UBS Group reduced their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Finally, Mizuho dropped their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $215.00.

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.