Runnymede Capital Advisors Inc. Acquires New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Runnymede Capital Advisors Inc. purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,473 shares of the oil and natural gas company's stock, valued at approximately $897,000. Diamondback Energy accounts for about 0.8% of Runnymede Capital Advisors Inc.'s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter worth about $28,000. R Squared Ltd bought a new position in shares of Diamondback Energy during the 4th quarter worth approximately $29,000. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc boosted its stake in 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 purchasing an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. grew its stake 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 valued at $45,000 after purchasing an additional 106 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company's stock.

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Diamondback Energy Stock Performance

NASDAQ:FANG traded up $1.49 during mid-day trading on Wednesday, hitting $163.09. The company's stock had a trading volume of 2,373,062 shares, compared to its average volume of 1,880,308. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market cap of $47.20 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.24 and a beta of 1.85. The business's fifty day moving average is $159.82 and its two-hundred day moving average is $170.00.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results 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 return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. Analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.45%. The ex-dividend date was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio is 25.32%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group raised their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. 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. Mizuho boosted 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. Piper Sandler decreased their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Finally, Barclays reduced their target price on shares of Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $209.92.

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.