Beddow Capital Management Inc. Has $1.86 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Beddow Capital Management Inc. cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,355 shares of the oil and natural gas company’s stock after selling 200 shares during the quarter. Beddow Capital Management Inc.’s holdings in Diamondback Energy were worth $1,860,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Lakewood Asset Management LLC boosted its stake 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 worth $1,858,000 after purchasing an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC boosted its stake in Diamondback Energy by 2.0% in 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. Barden Capital Management Inc. boosted its stake in Diamondback Energy by 1.5% in the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in Diamondback Energy by 2.4% in the third quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock worth $482,000 after purchasing an additional 65 shares in the last quarter. Finally, Greenleaf Trust raised its position in shares of Diamondback Energy by 1.0% during the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after acquiring an additional 66 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Morgan Stanley boosted their target price on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their target price on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Finally, Truist Financial boosted their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.92.

Diamondback Energy Stock Up 0.0 %

FANG stock opened at $158.50 on Friday. The business has a 50-day moving average of $160.47 and a 200-day moving average of $170.51. Diamondback Energy, Inc. has a fifty-two week low of $137.09 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market capitalization of $45.88 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion for 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%. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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.