Arete Wealth Advisors LLC Purchases 16,038 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Arete Wealth Advisors LLC raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 924.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,773 shares of the oil and natural gas company's stock after purchasing an additional 16,038 shares during the quarter. Arete Wealth Advisors LLC's holdings in Diamondback Energy were worth $2,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wintrust Investments LLC purchased a new stake in Diamondback Energy during the 4th quarter valued at about $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc increased its stake in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after buying an additional 188 shares during the period. Finally, Rakuten Securities Inc. raised its holdings in Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock valued at $45,000 after buying an additional 106 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have issued reports on FANG shares. Truist Financial boosted their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Williams Trading set a $190.00 price objective on Diamondback Energy in a report on Wednesday, March 5th. UBS Group boosted their target price on Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company dropped their price target on Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Finally, Wolfe Research raised 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 report on Friday, January 3rd. Three investment 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $210.29.

Diamondback Energy Stock Performance

FANG traded down $1.46 during midday trading on Tuesday, hitting $123.07. 1,010,905 shares of the company traded hands, compared to its average volume of 2,016,494. The company's 50-day moving average is $154.96 and its 200 day moving average is $168.42. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $35.62 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 52 week low of $117.03 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. On average, research analysts expect 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 paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.25%. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Insider Buying and Selling

In related news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

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.