International Private Wealth Advisors LLC Purchases New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

International Private Wealth Advisors LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,509 shares of the oil and natural gas company’s stock, valued at approximately $247,000.

Other institutional investors have also recently bought and sold shares of the company. Financial Advocates Investment Management grew its stake in Diamondback Energy by 3.0% during the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 55 shares in the last quarter. Greenup Street Wealth Management LLC lifted its holdings in shares of Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after acquiring an additional 60 shares during the period. Lakewood Asset Management LLC boosted its position in shares of Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after acquiring an additional 60 shares in the last quarter. West Family Investments Inc. increased its stake in Diamondback Energy by 3.4% in the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after acquiring an additional 61 shares during the last quarter. Finally, Magnolia Capital Advisors LLC raised its position in Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FANG. Wells Fargo & Company raised their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Susquehanna reduced their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $161.66 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. The company has a 50 day simple moving average of $167.54 and a two-hundred day simple moving average of $179.16. The company has a market capitalization of $47.20 billion, a PE ratio of 9.25, a P/E/G ratio of 1.24 and a beta of 1.86.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

About Diamondback Energy

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.