TruWealth Advisors LLC Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

TruWealth Advisors LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,525 shares of the oil and natural gas company's stock after acquiring an additional 4,020 shares during the period. TruWealth Advisors LLC's holdings in Diamondback Energy were worth $16,305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FANG. State Street Corp raised its stake in Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock worth $2,044,415,000 after acquiring an additional 149,871 shares during the period. Geode Capital Management LLC increased its position in Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock worth $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Diamondback Energy by 9.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company's stock valued at $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock valued at $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, Raymond James & Associates raised its position in Diamondback Energy by 4.2% in the 3rd quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company's stock worth $195,714,000 after purchasing an additional 46,109 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of FANG traded up $1.06 during mid-day trading on Friday, reaching $180.18. The company had a trading volume of 1,810,899 shares, compared to its average volume of 2,013,453. The stock has a market capitalization of $52.61 billion, a P/E ratio of 10.31, a PEG ratio of 1.33 and a beta of 1.88. Diamondback Energy, Inc. has a 52-week low of $147.93 and a 52-week high of $214.50. The stock has a 50 day moving average of $170.60 and a two-hundred day moving average of $182.92. 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 released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 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 company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the prior year, the company posted $5.49 EPS. The company's revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts expect that Diamondback Energy, Inc. will post 16.08 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. Diamondback Energy's dividend payout ratio is currently 20.61%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FANG shares. Susquehanna dropped their price objective on Diamondback Energy from $237.00 to $233.00 and set a "positive" rating for the company in a report on Friday, October 18th. Mizuho lowered their target price on Diamondback Energy from $219.00 to $207.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Johnson Rice downgraded Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, September 24th. KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Finally, Piper Sandler reduced their price objective 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. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $214.17.

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.