Gallagher Capital Advisors LLC Acquires Shares of 2,782 Diamondback Energy, Inc. (NASDAQ:FANG)

Gallagher Capital Advisors LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,782 shares of the oil and natural gas company's stock, valued at approximately $456,000.

Several other hedge funds have also recently modified their holdings of the stock. QRG Capital Management Inc. raised its stake in shares of Diamondback Energy by 38.4% during the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after buying an additional 3,238 shares in the last quarter. Swedbank AB boosted its position in shares of Diamondback Energy by 28.0% during the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock worth $32,485,000 after purchasing an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Diamondback Energy by 631.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock worth $7,069,000 after purchasing an additional 37,246 shares during the period. Franklin Resources Inc. increased its holdings in shares of Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock valued at $28,008,000 after purchasing an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its stake in shares of Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock valued at $5,155,000 after purchasing an additional 8,704 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several brokerages have weighed in on FANG. The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a "buy" rating and a $227.00 target price on the stock. Mizuho upped their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. StockNews.com raised Diamondback Energy from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. Truist Financial boosted their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, 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 report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $211.92.

Diamondback Energy Trading Down 0.5 %

Diamondback Energy stock traded down $0.75 during trading on Thursday, hitting $145.80. The company's stock had a trading volume of 2,641,224 shares, compared to its average volume of 2,471,636. The stock's fifty day moving average is $162.83 and its 200 day moving average is $172.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The stock has a market capitalization of $42.20 billion, a price-to-earnings ratio of 8.35, a P/E/G ratio of 1.24 and a beta of 1.84.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating 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 company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. As a group, equities research analysts predict 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 will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Insider Activity

In other news, Director Frank D. Tsuru bought 2,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.48% of the company's stock.

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.