HBW Advisory Services LLC Makes New Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

HBW Advisory Services LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,101 shares of the oil and natural gas company's stock, valued at approximately $508,000.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp raised its holdings in Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock valued at $2,044,415,000 after buying an additional 149,871 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock valued at $793,611,000 after acquiring an additional 266,299 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company's stock worth $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Diamondback Energy by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company's stock worth $538,547,000 after purchasing an additional 247,065 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Diamondback Energy by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,282,557 shares of the oil and natural gas company's stock valued at $456,930,000 after purchasing an additional 87,288 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FANG shares. Truist Financial boosted their target price on Diamondback Energy from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. KeyCorp decreased their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Barclays raised shares of Diamondback Energy from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a "buy" rating and a $227.00 price target for the company. Finally, StockNews.com raised Diamondback Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of "Moderate Buy" and a consensus 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 that occurred 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 completion of the sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $3.78 during midday trading on Friday, reaching $174.77. 2,725,144 shares of the company's stock traded hands, compared to its average volume of 2,074,256. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The stock has a 50 day moving average of $170.76 and a 200 day moving average of $183.86. The company has a market cap of $51.03 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 1.19 and a beta of 1.88. 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 (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company posted $5.49 EPS. Diamondback Energy's revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 16.51 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, November 14th. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.

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.