SRS Capital Advisors Inc. Has $568,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

SRS Capital Advisors Inc. grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 48.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,470 shares of the oil and natural gas company’s stock after acquiring an additional 1,128 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Diamondback Energy were worth $568,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FANG. Assenagon Asset Management S.A. increased its holdings in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after buying an additional 1,042,505 shares during the period. Zimmer Partners LP bought a new position in Diamondback Energy in the 3rd quarter valued at about $87,924,000. Bank of New York Mellon Corp increased its holdings in Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after buying an additional 502,916 shares during the period. Holocene Advisors LP increased its holdings in Diamondback Energy by 95.3% in the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after buying an additional 457,896 shares during the period. Finally, Diamond Hill Capital Management Inc. increased 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 buying an additional 439,579 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 6.9 %

NASDAQ:FANG opened at $148.00 on Tuesday. The firm’s fifty day moving average is $165.25 and its 200-day moving average is $174.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52 week low of $147.70 and a 52 week high of $214.50. The firm has a market cap of $42.84 billion, a P/E ratio of 8.47, a P/E/G ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last posted 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. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, March 6th. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Analysts Set New Price Targets

Several research firms have commented on FANG. Piper Sandler decreased their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Truist Financial boosted their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Wells Fargo & Company boosted their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective for the company. Four research 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. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $216.09.

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.