Axxcess Wealth Management LLC Makes New $278,000 Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Axxcess Wealth Management LLC bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,697 shares of the oil and natural gas company's stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. Wintrust Investments LLC purchased a new stake in Diamondback Energy during the 4th quarter worth about $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy during the 4th quarter worth about $29,000. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 247.3% during the fourth 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 in the last quarter. Key Financial Inc lifted its stake in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after buying an additional 188 shares during the period. Finally, Rakuten Securities Inc. boosted its position in Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FANG. Morgan Stanley increased their price target on Diamondback Energy from $220.00 to $227.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. 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 lifted their price target on Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th. Raymond James cut their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Four investment 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $209.92.

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Diamondback Energy Stock Up 0.9 %

NASDAQ FANG traded up $1.49 during mid-day trading on Wednesday, reaching $163.09. 2,371,820 shares of the company's stock traded hands, compared to its average volume of 1,878,957. 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, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The company has a fifty day simple moving average of $159.82 and a 200-day simple moving average of $170.00. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.45%. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Insider Buying and Selling

In other news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired 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 of the company's stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.48% of the company's stock.

Diamondback Energy 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.