Everence Capital Management Inc. Invests $1.05 Million in Diamondback Energy, Inc. (NASDAQ:FANG)

Everence Capital Management Inc. purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,430 shares of the oil and natural gas company's stock, valued at approximately $1,053,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Carolinas Wealth Consulting LLC grew its position in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock valued at $27,000 after acquiring an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy during the second quarter worth approximately $40,000. Values First Advisors Inc. bought a new stake in Diamondback Energy in the third quarter valued at approximately $42,000. Oliver Lagore Vanvalin Investment Group lifted its position in shares of Diamondback Energy by 109.7% in the second 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, CVA Family Office LLC increased its holdings 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 during the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Up 2.5 %

NASDAQ FANG traded up $4.18 during trading hours on Friday, reaching $170.96. The company's stock had a trading volume of 2,016,317 shares, compared to its average volume of 1,902,609. The stock has a market cap of $49.92 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.21 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The firm has a fifty day simple moving average of $171.25 and a 200-day simple moving average of $184.66.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business earned $5.49 earnings per share. Diamondback Energy's revenue was up 13.0% compared to the same quarter last year. Equities analysts forecast that Diamondback Energy, Inc. will post 16.28 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.11%. Diamondback Energy's payout ratio is 20.61%.

Analyst Ratings Changes

A number of equities analysts have commented on FANG shares. Citigroup initiated coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They set a "neutral" rating and a $195.00 price objective for the company. UBS Group decreased their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a "buy" rating on the stock in a research note on Monday, December 9th. Mizuho cut their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Truist Financial increased their target price on Diamondback Energy from $220.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, KeyCorp decreased their price objective on Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Diamondback Energy currently has an average rating of "Moderate Buy" and an average price target of $209.83.

Insider Buying and Selling at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.