Runnymede Capital Advisors Inc. Makes New Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Runnymede Capital Advisors Inc. bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,473 shares of the oil and natural gas company’s stock, valued at approximately $897,000. Diamondback Energy comprises 0.8% of Runnymede Capital Advisors Inc.’s holdings, making the stock its 24th biggest position.

Other large investors have also bought and sold shares of the company. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $28,000. R Squared Ltd purchased a new stake in Diamondback Energy in the fourth quarter worth $29,000. UMB Bank n.a. increased its position in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Key Financial Inc increased its position in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. increased its position in Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after buying an additional 106 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FANG. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Williams Trading set a $190.00 price target on Diamondback Energy in a report on Wednesday, March 5th. Truist Financial raised their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Raymond James cut their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 12th. Finally, Barclays cut their price target on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday. Four research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $209.92.

Diamondback Energy Trading Up 0.0 %

NASDAQ FANG opened at $158.50 on Friday. The stock’s 50-day simple moving average is $160.47 and its two-hundred day simple moving average is $170.51. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $45.88 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85.

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

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.52%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now 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 purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.48% of the company’s stock.

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.