Raleigh Capital Management Inc. Has $267,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Raleigh Capital Management Inc. lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,631 shares of the oil and natural gas company’s stock after selling 122 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Diamondback Energy were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FANG. Wesbanco Bank Inc. lifted its position in shares of Diamondback Energy by 11.9% during the 4th quarter. Wesbanco Bank Inc. now owns 84,765 shares of the oil and natural gas company’s stock worth $13,887,000 after buying an additional 9,010 shares during the last quarter. SG Americas Securities LLC raised its stake in Diamondback Energy by 155.6% during the fourth quarter. SG Americas Securities LLC now owns 43,043 shares of the oil and natural gas company’s stock worth $7,052,000 after acquiring an additional 26,204 shares in the last quarter. Park Place Capital Corp lifted its holdings in shares of Diamondback Energy by 49.0% in the fourth quarter. Park Place Capital Corp now owns 6,581 shares of the oil and natural gas company’s stock worth $1,078,000 after acquiring an additional 2,164 shares during the last quarter. Simon Quick Advisors LLC bought a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $202,000. Finally, MCF Advisors LLC increased its position in Diamondback Energy by 24.2% during the 4th quarter. MCF Advisors LLC now owns 1,523 shares of the oil and natural gas company’s stock worth $249,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Performance

Shares of FANG opened at $176.63 on Friday. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The company has a 50-day simple moving average of $170.46 and a two-hundred day simple moving average of $182.51. 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 firm has a market capitalization of $51.57 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last issued 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). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business earned $5.49 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.58 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared 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 2.04%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FANG. Scotiabank cut their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Friday, January 3rd. Raymond James raised their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday. Truist Financial boosted their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, KeyCorp dropped their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. 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 $215.00.

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.