First Horizon Advisors Inc. Has $50,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

First Horizon Advisors Inc. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 37.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 320 shares of the oil and natural gas company’s stock after acquiring an additional 87 shares during the quarter. First Horizon Advisors Inc.’s holdings in Diamondback Energy were worth $50,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in FANG. BKM Wealth Management LLC acquired a new stake in Diamondback Energy during the fourth quarter worth approximately $27,000. BluePath Capital Management LLC bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $34,000. CVA Family Office LLC bought a new stake in shares of Diamondback Energy in the 4th quarter valued at $35,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of Diamondback Energy by 559.0% during the 3rd 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 acquiring an additional 218 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Down 0.2 %

NASDAQ:FANG opened at $203.68 on Wednesday. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The firm has a 50-day moving average price of $196.55 and a two-hundred day moving average price of $171.35. The firm has a market cap of $36.33 billion, a price-to-earnings ratio of 11.48 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the business posted $4.10 earnings per share. Diamondback Energy’s revenue was up 15.7% on a year-over-year basis. On average, equities analysts expect that Diamondback Energy, Inc. will post 18.91 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.77%. Diamondback Energy’s payout ratio is currently 20.29%.

Analyst Ratings Changes

Several research firms have weighed in on FANG. StockNews.com raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Barclays started coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price target on the stock. Piper Sandler boosted their price objective on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, April 19th. UBS Group increased their target price on Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Truist Financial boosted their price target on shares of Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.68.

Insider Buying and Selling

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the sale, the vice president now directly owns 7,585 shares in the company, valued at $1,516,241.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,575 shares of company stock worth $11,491,006. Insiders own 0.43% of the company’s stock.

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.