IFP Advisors Inc Has $828,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

IFP Advisors Inc lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 158.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,053 shares of the oil and natural gas company’s stock after buying an additional 3,098 shares during the quarter. IFP Advisors Inc’s holdings in Diamondback Energy were worth $828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of FANG. Nisa Investment Advisors LLC boosted its stake in Diamondback Energy by 6.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 54,813 shares of the oil and natural gas company’s stock valued at $9,450,000 after purchasing an additional 3,127 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Diamondback Energy by 111.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,263 shares of the oil and natural gas company’s stock valued at $390,000 after acquiring an additional 1,191 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Diamondback Energy by 2.5% in the third quarter. First Trust Direct Indexing L.P. now owns 5,720 shares of the oil and natural gas company’s stock worth $986,000 after acquiring an additional 141 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Diamondback Energy by 4.5% in the third quarter. Pinnacle Associates Ltd. now owns 69,378 shares of the oil and natural gas company’s stock worth $11,961,000 after acquiring an additional 3,003 shares during the last quarter. Finally, Oak Harvest Investment Services increased its position in Diamondback Energy by 16.6% during the third quarter. Oak Harvest Investment Services now owns 51,061 shares of the oil and natural gas company’s stock worth $8,803,000 after acquiring an additional 7,257 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 2.1 %

NASDAQ FANG opened at $155.59 on Friday. The stock’s 50 day simple moving average is $165.34 and its 200 day simple moving average is $175.63. Diamondback Energy, Inc. has a one year low of $151.00 and a one year high of $214.50. The firm has a market cap of $45.43 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a $1.00 dividend. The ex-dividend date is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.57%. Diamondback Energy’s payout ratio is currently 25.32%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FANG. Morgan Stanley raised their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. The Goldman Sachs Group began coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Truist Financial raised their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $216.09.

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.