J2 Capital Management Inc Takes $575,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

J2 Capital Management Inc purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,508 shares of the oil and natural gas company’s stock, valued at approximately $575,000.

A number of other hedge funds also recently bought and sold shares of FANG. TruWealth Advisors LLC grew its stake in shares of Diamondback Energy by 4.2% during the fourth quarter. TruWealth Advisors LLC now owns 99,525 shares of the oil and natural gas company’s stock worth $16,305,000 after purchasing an additional 4,020 shares in the last quarter. HB Wealth Management LLC lifted its holdings in Diamondback Energy by 22.7% during the 4th quarter. HB Wealth Management LLC now owns 4,036 shares of the oil and natural gas company’s stock worth $661,000 after buying an additional 747 shares during the last quarter. Shelton Wealth Management LLC boosted its position in shares of Diamondback Energy by 20.9% during the 4th quarter. Shelton Wealth Management LLC now owns 9,027 shares of the oil and natural gas company’s stock worth $1,479,000 after acquiring an additional 1,563 shares in the last quarter. Howard Financial Services LTD. increased its holdings in shares of Diamondback Energy by 17.6% in the 4th quarter. Howard Financial Services LTD. now owns 1,893 shares of the oil and natural gas company’s stock valued at $310,000 after acquiring an additional 283 shares during the last quarter. Finally, Somerset Trust Co raised its position in shares of Diamondback Energy by 11.8% during the 4th quarter. Somerset Trust Co now owns 4,772 shares of the oil and natural gas company’s stock worth $782,000 after acquiring an additional 504 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FANG shares. Evercore ISI lowered their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Benchmark restated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. Truist Financial lifted their target price on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $214.17.

Diamondback Energy Trading Up 0.6 %

Shares of FANG stock opened at $180.18 on Friday. Diamondback Energy, Inc. has a 1-year low of $147.93 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business’s fifty day moving average price is $170.60 and its 200 day moving average price is $183.08. The firm has a market capitalization of $52.61 billion, a PE ratio of 10.31, a P/E/G ratio of 1.33 and a beta of 1.88.

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

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.00%. Diamondback Energy’s 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.