Pallas Capital Advisors LLC Has $2.06 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Pallas Capital Advisors LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,576 shares of the oil and natural gas company’s stock after purchasing an additional 208 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Diamondback Energy were worth $2,060,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Financial Advocates Investment Management raised its holdings in Diamondback Energy by 3.0% in the third 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. Brighton Jones LLC boosted its position in shares of Diamondback Energy by 0.8% during the second quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock worth $1,566,000 after purchasing an additional 60 shares in the last quarter. Greenup Street Wealth Management LLC grew its holdings in shares of Diamondback Energy by 3.4% in 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. Finally, West Family Investments Inc. increased its position 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 buying an additional 61 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FANG. Piper Sandler reduced their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Scotiabank cut their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. Finally, Raymond James increased their price objective on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $210.08.

Diamondback Energy Stock Up 1.6 %

FANG opened at $177.61 on Tuesday. The stock has a fifty day moving average of $170.72 and a 200-day moving average of $183.62. The company has a market capitalization of $51.86 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.19 and a beta of 1.88. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. 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 issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm earned $5.49 EPS. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities analysts expect that Diamondback Energy, Inc. will post 16.51 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 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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.