Sargent Bickham Lagudis LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 363 shares of the oil and natural gas company’s stock, valued at approximately $50,000.
A number of other large investors also recently modified their holdings of FANG. Armstrong Advisory Group Inc. acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at about $25,000. Adirondack Trust Co. increased its holdings in Diamondback Energy by 275.0% during the 3rd quarter. Adirondack Trust Co. now owns 225 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 165 shares during the last quarter. Private Trust Co. NA purchased a new stake in Diamondback Energy during the 2nd quarter worth approximately $28,000. SOA Wealth Advisors LLC. increased its holdings in Diamondback Energy by 72.1% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 241 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 101 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC increased its holdings in Diamondback Energy by 366.7% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 176 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
FANG has been the topic of several analyst reports. Citigroup dropped their price objective on Diamondback Energy from $170.00 to $157.00 and set a “buy” rating on the stock in a report on Thursday, March 23rd. Barclays boosted their price objective on Diamondback Energy from $166.00 to $182.00 in a research report on Thursday, March 16th. Raymond James reduced their price objective on Diamondback Energy from $205.00 to $165.00 in a research report on Monday, March 27th. Stifel Nicolaus reduced their price target on Diamondback Energy from $176.00 to $172.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Mizuho dropped their price objective on Diamondback Energy from $195.00 to $177.00 in a research note on Friday, March 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.00.
Diamondback Energy Stock Performance
Diamondback Energy (NASDAQ:FANG – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The oil and natural gas company reported $5.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.20 by $0.09. Diamondback Energy had a net margin of 45.48% and a return on equity of 29.29%. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the firm earned $3.63 EPS. The business’s revenue was up .4% on a year-over-year basis. As a group, analysts predict that Diamondback Energy, Inc. will post 21.14 EPS for the current year.
Diamondback Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, March 3rd were paid a $2.95 dividend. The ex-dividend date was Thursday, March 2nd. This represents a $11.80 annualized dividend and a yield of 8.73%. Diamondback Energy’s dividend payout ratio (DPR) is 12.99%.
Diamondback Energy Profile
Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.
Further Reading
- Get a free copy of the StockNews.com research report on Diamondback Energy (FANG)
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