Private Advisor Group LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,010 shares of the oil and natural gas company’s stock, valued at approximately $1,759,000.
Other large investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. lifted its stake in Diamondback Energy by 83.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 189 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 86 shares in the last quarter. Focused Wealth Management Inc lifted its stake in Diamondback Energy by 111.8% during the first quarter. Focused Wealth Management Inc now owns 190 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 1,800 shares in the last quarter. Accel Wealth Management acquired a new position in Diamondback Energy during the first quarter worth $27,000. FinTrust Capital Advisors LLC lifted its stake in Diamondback Energy by 232.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Finally, Glassman Wealth Services lifted its stake in Diamondback Energy by 83.3% during the fourth quarter. Glassman Wealth Services now owns 220 shares of the oil and natural gas company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. 89.21% of the stock is currently owned by institutional investors and hedge funds.
Diamondback Energy Stock Performance
Shares of FANG stock opened at $149.55 on Friday. The stock’s 50-day moving average is $140.16 and its two-hundred day moving average is $137.28. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.40 and a beta of 2.03. Diamondback Energy, Inc. has a 1 year low of $110.97 and a 1 year high of $168.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.43.
Diamondback Energy Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.84 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, August 9th. This represents a $3.36 annualized dividend and a dividend yield of 2.25%. Diamondback Energy’s dividend payout ratio is 17.44%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Diamondback Energy in a research note on Thursday, August 10th. Mizuho upped their price objective on Diamondback Energy from $174.00 to $191.00 and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Morgan Stanley upped their price objective on Diamondback Energy from $154.00 to $163.00 and gave the stock an “overweight” rating in a research report on Friday, August 18th. Truist Financial upped their price objective on Diamondback Energy from $182.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus upped their price objective on Diamondback Energy from $178.00 to $179.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.13.
Check Out Our Latest Stock Analysis on FANG
Insider Transactions at Diamondback Energy
In other news, COO Daniel N. Wesson sold 3,000 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $132.51, for a total transaction of $397,530.00. Following the completion of the sale, the chief operating officer now owns 65,802 shares in the company, valued at $8,719,423.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Daniel N. Wesson sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $132.51, for a total value of $397,530.00. Following the completion of the sale, the chief operating officer now owns 65,802 shares in the company, valued at $8,719,423.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Daniel N. Wesson sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $149.68, for a total transaction of $598,720.00. Following the completion of the sale, the chief operating officer now owns 61,802 shares of the company’s stock, valued at approximately $9,250,523.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,912 shares of company stock worth $6,938,458. Company insiders own 0.43% of the company’s stock.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.
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