Moors & Cabot Inc. Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Moors & Cabot Inc. increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,821 shares of the oil and natural gas company’s stock after buying an additional 247 shares during the period. Moors & Cabot Inc.’s holdings in Diamondback Energy were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. Briaud Financial Planning Inc purchased a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $57,000. King Luther Capital Management Corp increased its position in Diamondback Energy by 6.1% in the fourth quarter. King Luther Capital Management Corp now owns 171,305 shares of the oil and natural gas company’s stock worth $28,065,000 after purchasing an additional 9,893 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in Diamondback Energy by 4.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 2,928 shares of the oil and natural gas company’s stock worth $480,000 after purchasing an additional 133 shares during the last quarter. Independent Advisor Alliance raised its stake in Diamondback Energy by 14.7% during the fourth quarter. Independent Advisor Alliance now owns 2,817 shares of the oil and natural gas company’s stock valued at $461,000 after purchasing an additional 362 shares in the last quarter. Finally, Gallagher Capital Advisors LLC bought a new position in Diamondback Energy during the fourth quarter valued at $456,000. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FANG. Raymond James reduced their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Truist Financial lifted their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley increased their price target on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.92.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $150.20 on Friday. Diamondback Energy, Inc. has a one year low of $137.09 and a one year 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. The firm’s 50 day moving average price is $162.00 and its 200-day moving average price is $171.85. The firm has a market cap of $43.47 billion, a P/E ratio of 8.60, a P/E/G ratio of 1.24 and a beta of 1.84.

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

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.66%. Diamondback Energy’s dividend payout ratio is 25.32%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, 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.