J.W. Cole Advisors Inc. Has $434,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

J.W. Cole Advisors Inc. raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,796 shares of the oil and natural gas company’s stock after purchasing an additional 82 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Diamondback Energy were worth $434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of Diamondback Energy by 39.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after acquiring an additional 858,446 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the third quarter valued at about $128,720,000. Wellington Management Group LLP increased its position in shares of Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after acquiring an additional 648,317 shares during the last quarter. Raymond James & Associates increased its position in shares of Diamondback Energy by 143.0% in the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after acquiring an additional 577,514 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Diamondback Energy by 286.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after acquiring an additional 441,411 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,675 shares of company stock worth $11,311,096. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Scotiabank lifted their target price on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Susquehanna lifted their price target on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a report on Monday. Mizuho lifted their price target on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Truist Financial lifted their price target on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a report on Monday. Finally, UBS Group lifted their price target on Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $202.53.

Diamondback Energy Trading Up 0.9 %

Shares of NASDAQ:FANG opened at $204.37 on Wednesday. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96. The stock has a market cap of $36.45 billion, a PE ratio of 11.79 and a beta of 1.93. The business has a 50 day moving average of $191.41 and a 200-day moving average of $168.61. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company posted $5.29 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 18.53 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were given a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.03%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s payout ratio is presently 20.76%.

Diamondback Energy Company 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.