Diamondback Energy, Inc. (NASDAQ:FANG) Stock Position Lifted by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 28,778 shares of the oil and natural gas company’s stock after buying an additional 165 shares during the period. Biondo Investment Advisors LLC’s holdings in Diamondback Energy were worth $4,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Independent Advisor Alliance raised its holdings in shares of Diamondback Energy by 10.9% during the third quarter. Independent Advisor Alliance now owns 2,455 shares of the oil and natural gas company’s stock worth $423,000 after purchasing an additional 241 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in Diamondback Energy by 27.7% in the third quarter. Brown Brothers Harriman & Co. now owns 443 shares of the oil and natural gas company’s stock worth $76,000 after acquiring an additional 96 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Diamondback Energy by 17.5% in the third quarter. The Manufacturers Life Insurance Company now owns 171,737 shares of the oil and natural gas company’s stock valued at $29,607,000 after acquiring an additional 25,603 shares during the period. D.A. Davidson & CO. grew its holdings in shares of Diamondback Energy by 8.3% during the third quarter. D.A. Davidson & CO. now owns 14,185 shares of the oil and natural gas company’s stock valued at $2,446,000 after purchasing an additional 1,092 shares during the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Diamondback Energy by 344.7% during the 3rd quarter. Townsquare Capital LLC now owns 27,608 shares of the oil and natural gas company’s stock worth $4,760,000 after purchasing an additional 21,400 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 1.7 %

Shares of NASDAQ:FANG opened at $157.54 on Friday. The stock has a market capitalization of $45.60 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The company has a 50 day moving average price of $158.66 and a 200 day moving average price of $169.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is presently 25.32%.

Analysts Set New Price Targets

FANG has been the subject of a number of analyst reports. Truist Financial boosted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Mizuho increased their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Morgan Stanley cut their price target on Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Citigroup lowered their target price on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $209.33.

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.