Signaturefd LLC Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Signaturefd LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,605 shares of the oil and natural gas company’s stock after purchasing an additional 137 shares during the period. Signaturefd LLC’s holdings in Diamondback Energy were worth $559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter worth $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth $34,000. CVA Family Office LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Diamondback Energy by 559.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after acquiring an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FANG shares. Mizuho raised their target price on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Truist Financial raised their price objective on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday. KeyCorp raised their price objective on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday. Stifel Nicolaus raised their price objective on Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Scotiabank raised their price objective on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.53.

Insider Buying and Selling

In related news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 over the last 90 days. 0.43% of the stock is owned by insiders.

Diamondback Energy Stock Performance

Shares of FANG opened at $205.24 on Thursday. The stock has a 50-day simple moving average of $192.11 and a 200-day simple moving average of $168.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The stock has a market capitalization of $36.60 billion, a PE ratio of 11.84 and a beta of 1.93. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.29 EPS. On average, analysts predict that Diamondback Energy, Inc. will post 18.84 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a yield of 6.00%. Diamondback Energy’s payout ratio is presently 20.76%.

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.