Strategic Investment Advisors MI Has $1.11 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Strategic Investment Advisors MI trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,764 shares of the oil and natural gas company’s stock after selling 511 shares during the period. Strategic Investment Advisors MI’s holdings in Diamondback Energy were worth $1,108,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FANG. UMB Bank n.a. raised its holdings 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 buying an additional 136 shares during the period. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter worth approximately $42,000. CVA Family Office LLC grew its stake in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its stake in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after acquiring an additional 136 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $52,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 1.9 %

FANG stock opened at $173.26 on Monday. The company has a market cap of $50.59 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The business has a 50-day simple moving average of $170.28 and a 200 day simple moving average of $182.11. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

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

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FANG. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Thursday. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research note on Friday, January 3rd. UBS Group decreased their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Finally, Truist Financial raised their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.

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.