Financial Advocates Investment Management Acquires 142 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Financial Advocates Investment Management increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,049 shares of the oil and natural gas company’s stock after buying an additional 142 shares during the period. Financial Advocates Investment Management’s holdings in Diamondback Energy were worth $336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FANG. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Diamondback Energy by 40.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,200 shares of the oil and natural gas company’s stock worth $1,068,000 after acquiring an additional 1,800 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Diamondback Energy by 13.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the oil and natural gas company’s stock worth $474,000 after purchasing an additional 326 shares in the last quarter. Inspire Investing LLC grew its position in Diamondback Energy by 99.5% during the 3rd quarter. Inspire Investing LLC now owns 45,478 shares of the oil and natural gas company’s stock valued at $7,840,000 after purchasing an additional 22,684 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Diamondback Energy during the 3rd quarter valued at about $87,000. Finally, CVA Family Office LLC raised its holdings in Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 1.2 %

FANG stock opened at $158.13 on Monday. The firm has a fifty day moving average price of $167.54 and a 200 day moving average price of $179.30. Diamondback Energy, Inc. has a fifty-two week low of $151.25 and a fifty-two week high of $214.50. The firm has a market cap of $46.17 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.28%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Benchmark reiterated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Citigroup initiated coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Raymond James boosted their target price on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. 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 company’s stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred 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 owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction 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.