Pine Valley Investments Ltd Liability Co Raises Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Pine Valley Investments Ltd Liability Co lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,169 shares of the oil and natural gas company’s stock after purchasing an additional 142 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Diamondback Energy were worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new position in Diamondback Energy in the 4th quarter worth $29,000. UMB Bank n.a. lifted its position in shares of 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 valued at $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc boosted its stake in shares of 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 acquiring an additional 188 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy during the third quarter worth about $52,000. Finally, Synergy Asset Management LLC bought a new stake in Diamondback Energy during the 4th quarter valued at approximately $67,000. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Morgan Stanley upped their target price on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Piper Sandler reduced their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Raymond James boosted their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. Four investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $216.09.

Diamondback Energy Trading Up 0.3 %

FANG opened at $152.43 on Thursday. 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’s 50 day moving average price is $165.28 and its 200-day moving average price is $175.77. Diamondback Energy, Inc. has a one year low of $151.00 and a one year high of $214.50. The stock has a market cap of $44.51 billion, a price-to-earnings ratio of 8.73, a P/E/G ratio of 1.24 and a beta of 1.86.

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 the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

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.