Legacy CG LLC Buys 738 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Legacy CG LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,299 shares of the oil and natural gas company’s stock after acquiring an additional 738 shares during the quarter. Diamondback Energy comprises about 1.5% of Legacy CG LLC’s holdings, making the stock its 29th biggest holding. Legacy CG LLC’s holdings in Diamondback Energy were worth $4,800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB grew its holdings in shares of Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after purchasing an additional 43,361 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after acquiring an additional 37,246 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after acquiring an additional 7,694 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Diamondback Energy during the fourth quarter valued at about $1,053,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent research reports. Mizuho reduced their price objective 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. Wells Fargo & Company boosted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Truist Financial lifted their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Scotiabank dropped their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Citigroup assumed coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Trading Down 0.9 %

Shares of NASDAQ:FANG opened at $164.76 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a market cap of $48.11 billion, a P/E ratio of 9.43, a PEG ratio of 1.28 and a beta of 1.86. The stock’s fifty day moving average price is $168.48 and its 200-day moving average price is $180.00. Diamondback Energy, Inc. has a 1 year low of $150.00 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (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 during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the business earned $5.49 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.5 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

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.