Cwm LLC Raises Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Cwm LLC increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,717 shares of the oil and natural gas company’s stock after buying an additional 354 shares during the period. Cwm LLC’s holdings in Diamondback Energy were worth $3,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth $27,000. BluePath Capital Management LLC purchased a new stake in Diamondback Energy during the third quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at about $34,000. CVA Family Office LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at about $35,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG stock opened at $205.24 on Thursday. The firm has a 50 day moving average price of $192.11 and a 200-day moving average price of $168.87. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The firm has a market capitalization of $36.60 billion, a price-to-earnings ratio of 11.84 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $5.29 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 18.84 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued 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 yield of 6.00%. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s payout ratio is presently 20.76%.

Insider Buying and Selling

In related news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the sale, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 in the last three months. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Scotiabank raised their price target 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. Piper Sandler raised their price target on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Evercore ISI raised their price objective on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Raymond James reduced their price objective on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Truist Financial raised their price objective on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.53.

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.