7,038 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,038 shares of the oil and natural gas company's stock, valued at approximately $1,153,000.

Other large investors have also modified their holdings of the company. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at $28,000. R Squared Ltd acquired a new stake in Diamondback Energy during the 4th quarter worth about $29,000. UMB Bank n.a. raised its holdings in 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 worth $31,000 after buying an additional 136 shares during the period. Key Financial Inc lifted its stake in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after buying an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. increased its position in shares of Diamondback Energy by 62.4% in 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. 90.01% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FANG has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Scotiabank dropped their target price on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. UBS Group reduced their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $206.13.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $7.42 during midday trading on Friday, hitting $137.64. The company's stock had a trading volume of 3,665,218 shares, compared to its average volume of 2,084,876. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market capitalization of $40.48 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 1.24 and a beta of 1.44. The stock's 50 day simple moving average is $147.14 and its 200 day simple moving average is $164.93.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. Diamondback Energy's payout ratio is presently 25.32%.

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.