Clarus Group Inc. Buys 156 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Clarus Group Inc. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,685 shares of the oil and natural gas company’s stock after acquiring an additional 156 shares during the period. Clarus Group Inc.’s holdings in Diamondback Energy were worth $768,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Advocates Investment Management raised its position in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after purchasing an additional 55 shares during the last quarter. Greenup Street Wealth Management LLC raised its position in Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after purchasing an additional 60 shares during the last quarter. Lakewood Asset Management LLC raised its position in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares during the last quarter. West Family Investments Inc. raised its position in Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 61 shares during the last quarter. Finally, Magnolia Capital Advisors LLC raised its position in Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on FANG shares. UBS Group lowered their price target on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their target price on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler decreased their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, KeyCorp decreased their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $161.66 on Tuesday. The business’s fifty day simple moving average is $167.54 and its two-hundred day simple moving average is $179.16. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 1.24 and a beta of 1.86.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.23%. Diamondback Energy’s dividend payout ratio is 20.61%.

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.