CreativeOne Wealth LLC Raises Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

CreativeOne Wealth LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 35.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,765 shares of the oil and natural gas company’s stock after purchasing an additional 2,571 shares during the period. CreativeOne Wealth LLC’s holdings in Diamondback Energy were worth $1,600,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Mariner LLC increased its position in shares of Diamondback Energy by 8.0% during the fourth quarter. Mariner LLC now owns 53,240 shares of the oil and natural gas company’s stock worth $8,722,000 after acquiring an additional 3,962 shares during the period. Summit Investment Advisors Inc. grew its stake in Diamondback Energy by 52.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,111 shares of the oil and natural gas company’s stock worth $1,820,000 after purchasing an additional 3,841 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in Diamondback Energy during the 4th quarter worth $1,153,000. Distillate Capital Partners LLC increased its holdings in Diamondback Energy by 18.3% during the 4th quarter. Distillate Capital Partners LLC now owns 145,750 shares of the oil and natural gas company’s stock worth $23,878,000 after purchasing an additional 22,556 shares during the period. Finally, Crux Wealth Advisors bought a new stake in Diamondback Energy during the 4th quarter valued at $318,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $127.14 on Wednesday. The stock has a 50-day moving average of $148.66 and a two-hundred day moving average of $165.69. 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 has a market cap of $37.39 billion, a P/E ratio of 7.28, a P/E/G ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. As a group, research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 3.15%. Diamondback Energy’s payout ratio is currently 25.32%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased 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 directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on FANG. Raymond James cut their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Mizuho raised their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut their price objective on shares of Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Finally, Citigroup upgraded Diamondback Energy from a “reduce” rating to a “buy” rating and upped their target price for the stock from $157.00 to $180.00 in a report on Monday, April 7th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

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.