Sugarloaf Wealth Management LLC Has $3.83 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Sugarloaf Wealth Management LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,366 shares of the oil and natural gas company's stock after purchasing an additional 3,175 shares during the quarter. Diamondback Energy comprises 0.7% of Sugarloaf Wealth Management LLC's portfolio, making the stock its 25th largest position. Sugarloaf Wealth Management LLC's holdings in Diamondback Energy were worth $3,828,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in shares of Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock valued at $28,008,000 after purchasing an additional 47,951 shares during the period. Benjamin Edwards Inc. increased its position in shares of Diamondback Energy by 368.1% during the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company's stock worth $1,687,000 after acquiring an additional 7,694 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $1,053,000. Geode Capital Management LLC grew its stake in Diamondback Energy by 6.1% during the 3rd 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 purchasing an additional 266,299 shares in the last quarter. Finally, Atria Investments Inc increased its holdings in Diamondback Energy by 18.5% during the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company's stock worth $7,358,000 after purchasing an additional 6,672 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.48% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. BMO Capital Markets raised shares of Diamondback Energy from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Benchmark reissued a "buy" rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Wells Fargo & Company increased their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Evercore ISI lowered their price objective on Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Finally, Piper Sandler reduced their target price on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $209.83.

Diamondback Energy Price Performance

FANG stock traded up $3.78 during trading hours on Friday, hitting $174.77. 2,725,144 shares of the stock traded hands, compared to its average volume of 2,074,256. The stock has a 50-day simple moving average of $170.76 and a 200 day simple moving average of $183.96. The company has a market cap of $51.03 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.19 and a beta of 1.88. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data 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 return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the firm earned $5.49 EPS. The business's revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts forecast that Diamondback Energy, Inc. will post 16.51 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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

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.