Dynasty Wealth Management LLC Decreases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Dynasty Wealth Management LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,870 shares of the oil and natural gas company’s stock after selling 1,129 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Diamondback Energy were worth $1,453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Advocates Investment Management increased its holdings in shares of Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after acquiring an additional 55 shares during the last quarter. Lakewood Asset Management LLC boosted its holdings in Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. West Family Investments Inc. increased its stake in Diamondback Energy by 3.4% in the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 61 shares during the last quarter. Magnolia Capital Advisors LLC raised its holdings in Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its position in shares of Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock valued at $482,000 after purchasing an additional 65 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 2.1 %

FANG stock opened at $155.59 on Friday. The company has a 50 day moving average price of $165.34 and a two-hundred day moving average price of $175.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market capitalization of $45.43 billion, a P/E ratio of 8.91, a PEG ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a one year low of $151.00 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.57%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Analysts Set New Price Targets

FANG has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Mizuho increased their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Raymond James upped their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler dropped their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $216.09.

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.