Measured Wealth Private Client Group LLC Acquires 438 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Measured Wealth Private Client Group LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,976 shares of the oil and natural gas company’s stock after acquiring an additional 438 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Diamondback Energy were worth $324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after buying an additional 149,871 shares during the period. Geode Capital Management LLC increased its holdings in Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares during the period. Pacer Advisors Inc. lifted its stake in Diamondback Energy by 9.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after purchasing an additional 230,689 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after purchasing an additional 439,579 shares during the period. Finally, Raymond James & Associates grew its position in shares of Diamondback Energy by 4.2% during the 3rd quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock valued at $195,714,000 after purchasing an additional 46,109 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FANG shares. Raymond James upped their target price on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. KeyCorp decreased their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Citigroup initiated coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target for the company. Truist Financial raised their price objective on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, UBS Group reduced their target price on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’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 sale, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $160.03 on Friday. Diamondback Energy, Inc. has a 1 year low of $150.71 and a 1 year high of $214.50. The stock has a market capitalization of $46.73 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.28 and a beta of 1.86. The company’s 50-day moving average is $168.25 and its 200 day moving average is $179.89. 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 Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.49 EPS. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 15.5 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Diamondback Energy 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.