Shelton Wealth Management LLC Acquires 1,563 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Shelton Wealth Management LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 20.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,027 shares of the oil and natural gas company’s stock after acquiring an additional 1,563 shares during the quarter. Shelton Wealth Management LLC’s holdings in Diamondback Energy were worth $1,479,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FANG. Franklin Resources Inc. boosted its holdings in Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after acquiring an additional 7,694 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $1,053,000. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after acquiring an additional 266,299 shares during the last quarter. Finally, Atria Investments Inc lifted its holdings in Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after acquiring an additional 6,672 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Wednesday, November 6th. The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price on the stock. KeyCorp reduced their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were 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 of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $180.18 on Friday. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market cap of $52.61 billion, a P/E ratio of 10.31, a PEG ratio of 1.33 and a beta of 1.88. The business’s 50-day moving average price is $170.60 and its two-hundred day moving average price is $183.24.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the firm earned $5.49 EPS. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities analysts predict that Diamondback Energy, Inc. will post 16.08 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 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.