Orion Portfolio Solutions LLC Has $1.58 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Orion Portfolio Solutions LLC lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 20.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,660 shares of the oil and natural gas company's stock after selling 2,492 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Diamondback Energy were worth $1,582,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wintrust Investments LLC purchased a new position in Diamondback Energy during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 136 shares in 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 acquiring an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded down $5.28 during mid-day trading on Tuesday, hitting $119.25. The company had a trading volume of 3,367,894 shares, compared to its average volume of 2,026,357. Diamondback Energy, Inc. has a 12 month low of $117.03 and a 12 month high of $214.50. The firm has a market cap of $34.52 billion, a P/E ratio of 6.83, a PEG ratio of 1.24 and a beta of 1.44. The business's 50-day simple moving average is $152.93 and its 200-day simple moving average is $167.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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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, topping analysts' consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.35%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's payout ratio is currently 25.32%.

Analyst Ratings Changes

FANG has been the topic of a number of recent research reports. Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and boosted their target price for the company from $157.00 to $180.00 in a research note on Monday. Raymond James lowered their price target on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on shares of Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research report on Wednesday, March 5th. Finally, Truist Financial increased their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $210.29.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.48% of the company's stock.

About Diamondback Energy

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.