Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 25.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,900 shares of the oil and natural gas company’s stock after purchasing an additional 4,047 shares during the period. Benedict Financial Advisors Inc.’s holdings in Diamondback Energy were worth $3,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wedmont Private Capital boosted its position in Diamondback Energy by 2.9% during the third quarter. Wedmont Private Capital now owns 3,300 shares of the oil and natural gas company’s stock worth $569,000 after acquiring an additional 94 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Diamondback Energy by 43.9% during the 3rd quarter. Independence Bank of Kentucky now owns 3,705 shares of the oil and natural gas company’s stock worth $639,000 after acquiring an additional 1,130 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Diamondback Energy by 40.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,200 shares of the oil and natural gas company’s stock valued at $1,068,000 after purchasing an additional 1,800 shares during the period. Valeo Financial Advisors LLC raised its stake in Diamondback Energy by 13.4% during the third quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the oil and natural gas company’s stock worth $474,000 after purchasing an additional 326 shares during the period. Finally, Asio Capital LLC grew its stake in shares of Diamondback Energy by 1.0% during the 3rd quarter. Asio Capital LLC now owns 31,522 shares of the oil and natural gas company’s stock valued at $5,434,000 after buying an additional 308 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FANG. Raymond James boosted their price target on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Citigroup started coverage on Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price for the company. Mizuho reduced their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Price Performance

NASDAQ FANG opened at $158.13 on Friday. The company has a 50-day moving average price of $167.54 and a two-hundred day moving average price of $179.43. The stock has a market cap of $46.17 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $151.25 and a 52 week high of $214.50.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.28%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

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.