SCP Investment LP Acquires 2,200 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

SCP Investment LP boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 47.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,808 shares of the oil and natural gas company's stock after purchasing an additional 2,200 shares during the quarter. Diamondback Energy comprises about 0.9% of SCP Investment LP's portfolio, making the stock its 16th biggest holding. SCP Investment LP's holdings in Diamondback Energy were worth $1,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. Wintrust Investments LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth approximately $28,000. R Squared Ltd bought a new position in Diamondback Energy during the 4th quarter worth $29,000. UMB Bank n.a. raised its holdings in 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 valued at $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc lifted its position in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after acquiring an additional 188 shares during the period. Finally, Rakuten Securities Inc. grew its holdings in shares of Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after purchasing an additional 106 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Raymond James dropped 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. Piper Sandler cut their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Mizuho lifted their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Truist Financial boosted their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.33.

Diamondback Energy Trading Up 0.4 %

FANG traded up $0.62 during midday trading on Wednesday, hitting $161.49. 1,391,166 shares of the company were exchanged, compared to its average volume of 1,971,300. The firm's 50 day moving average price is $157.93 and its 200-day moving average price is $169.57. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The firm has a market capitalization of $46.74 billion, a P/E ratio of 9.24, a P/E/G ratio of 1.24 and a beta of 1.85. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

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

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Thursday, March 6th. Diamondback Energy's dividend payout ratio is currently 25.32%.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the business's stock in a transaction on 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 transaction, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. The trade was a 53.62 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy 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.