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

IFP Advisors Inc boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 158.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,053 shares of the oil and natural gas company’s stock after purchasing 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 SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FANG. R Squared Ltd bought a new position in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. lifted its holdings in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc lifted its holdings in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Diamondback Energy in the third quarter valued at about $52,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Diamondback Energy in the fourth quarter worth about $67,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of several research analyst reports. The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Truist Financial boosted their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Raymond James increased their target price on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued 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 an average price target of $216.09.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $155.59 on Friday. The stock has a market capitalization of $45.43 billion, a PE ratio of 8.91, a P/E/G ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 1-year low of $151.00 and a 1-year high of $214.50. The firm has a fifty day simple moving average of $165.34 and a 200 day simple moving average of $175.63. 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 (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.