Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,723 shares of the oil and natural gas company’s stock after purchasing an additional 1,031 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Diamondback Energy were worth $6,835,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FANG. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter valued at approximately $42,000. Oliver Lagore Vanvalin Investment Group grew its position in Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares during the period. CVA Family Office LLC raised its stake in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at about $52,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of Diamondback Energy in the second quarter worth about $74,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Truist Financial lifted their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a report on Monday, January 13th. KeyCorp lowered their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Piper Sandler cut their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $214.17.

Diamondback Energy Stock Up 0.6 %

NASDAQ FANG opened at $180.18 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The business’s fifty day simple moving average is $170.60 and its 200-day simple moving average is $183.08. The firm has a market cap of $52.61 billion, a PE ratio of 10.31, a P/E/G ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the firm earned $5.49 earnings per share. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 16.08 earnings per share for the current 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 given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.00%. Diamondback Energy’s payout ratio is 20.61%.

Diamondback Energy 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.