L. Roy Papp & Associates LLP Takes $299,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

L. Roy Papp & Associates LLP acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,927 shares of the oil and natural gas company’s stock, valued at approximately $299,000.

Several other hedge funds have also added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC raised its stake in Diamondback Energy by 68.1% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 3,021 shares of the oil and natural gas company’s stock worth $468,000 after buying an additional 1,224 shares during the period. State of Alaska Department of Revenue raised its stake in Diamondback Energy by 4.2% during the 4th quarter. State of Alaska Department of Revenue now owns 44,448 shares of the oil and natural gas company’s stock worth $6,892,000 after buying an additional 1,795 shares during the period. Symphony Financial Ltd. Co. acquired a new stake in Diamondback Energy during the 4th quarter worth $609,000. Gradient Investments LLC raised its stake in Diamondback Energy by 3,606.5% during the 4th quarter. Gradient Investments LLC now owns 3,410 shares of the oil and natural gas company’s stock worth $529,000 after buying an additional 3,318 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Diamondback Energy by 50.4% during the 4th quarter. Global Retirement Partners LLC now owns 1,009 shares of the oil and natural gas company’s stock worth $153,000 after buying an additional 338 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FANG. Scotiabank raised their price target on Diamondback Energy from $180.00 to $200.00 and gave the company a “sector outperform” rating in a report on Tuesday, February 13th. Stifel Nicolaus increased their price objective on Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Mizuho increased their price objective on Diamondback Energy from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. KeyCorp increased their price objective on Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, Morgan Stanley increased their price objective on Diamondback Energy from $177.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.11.

Read Our Latest Stock Analysis on FANG

Diamondback Energy Stock Performance

Shares of FANG stock opened at $198.17 on Friday. The business’s 50-day moving average price is $174.78 and its 200-day moving average price is $162.46. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $198.53. The firm has a market capitalization of $35.36 billion, a price-to-earnings ratio of 11.43 and a beta of 1.92. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANGGet Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm posted $5.29 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 17.93 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a $3.08 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is currently 20.76%.

Insider Buying and Selling

In related news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the transaction, the vice president now directly owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the transaction, the vice president now directly owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.94, for a total value of $969,700.00. Following the completion of the transaction, the executive vice president now directly owns 44,445 shares in the company, valued at $8,619,663.30. The disclosure for this sale can be found here. Insiders have sold a total of 27,675 shares of company stock valued at $5,311,096 over the last ninety days. 0.43% of the stock is owned by company insiders.

Diamondback Energy Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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