Coyle Financial Counsel LLC Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Coyle Financial Counsel LLC boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 53.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,102 shares of the oil and natural gas company’s stock after acquiring an additional 3,180 shares during the period. Coyle Financial Counsel LLC’s holdings in Diamondback Energy were worth $1,491,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Financial Advocates Investment Management increased 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 worth $329,000 after purchasing an additional 55 shares during the period. Lakewood Asset Management LLC increased 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 worth $1,858,000 after purchasing an additional 60 shares during the period. West Family Investments Inc. increased its holdings in shares of Diamondback Energy by 3.4% in 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 acquiring an additional 61 shares during the last quarter. Magnolia Capital Advisors LLC increased its holdings in shares of Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after acquiring an additional 64 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock valued at $482,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.6 %

Diamondback Energy stock opened at $155.23 on Tuesday. Diamondback Energy, Inc. has a twelve month low of $152.00 and a twelve month high of $214.50. The stock has a 50 day moving average of $165.52 and a two-hundred day moving average of $176.27. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $45.33 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, February 24th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Analysts Set New Price Targets

A number of research firms have recently commented on FANG. JPMorgan Chase & Co. increased their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Truist Financial increased their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Benchmark reiterated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. The Goldman Sachs Group began coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. Finally, Piper Sandler dropped their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $216.22.

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.