Janney Montgomery Scott LLC Raises Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Janney Montgomery Scott LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 168,384 shares of the oil and natural gas company’s stock after acquiring an additional 297 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Diamondback Energy were worth $27,586,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy during the third quarter worth approximately $42,000. CVA Family Office LLC lifted its holdings in shares of Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares during the period. Oliver Lagore Vanvalin Investment Group grew its position in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after buying an additional 136 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Diamondback Energy in the 3rd quarter valued at $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

FANG has been the topic of several analyst reports. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. Mizuho reduced their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Piper Sandler cut their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company boosted their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Trading Down 1.9 %

Shares of FANG stock opened at $173.26 on Friday. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50. The company has a market capitalization of $50.59 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 1.44 and a beta of 1.88. The firm has a 50-day moving average price of $170.35 and a 200 day moving average price of $182.47. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the firm earned $5.49 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Research analysts forecast that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

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.