Sugarloaf Wealth Management LLC Raises Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Sugarloaf Wealth Management LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,366 shares of the oil and natural gas company’s stock after purchasing an additional 3,175 shares during the period. Diamondback Energy comprises 0.7% of Sugarloaf Wealth Management LLC’s portfolio, making the stock its 25th largest holding. Sugarloaf Wealth Management LLC’s holdings in Diamondback Energy were worth $3,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. HBW Advisory Services LLC purchased a new stake in Diamondback Energy during the 4th quarter valued at approximately $508,000. Wealth Enhancement Advisory Services LLC grew its stake in Diamondback Energy by 4.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,608 shares of the oil and natural gas company’s stock valued at $2,863,000 after acquiring an additional 637 shares in the last quarter. First Hawaiian Bank increased its holdings in Diamondback Energy by 2.0% in the 4th quarter. First Hawaiian Bank now owns 12,792 shares of the oil and natural gas company’s stock valued at $2,096,000 after acquiring an additional 245 shares during the last quarter. Fulton Bank N.A. lifted its stake in Diamondback Energy by 8.1% in the 4th quarter. Fulton Bank N.A. now owns 3,716 shares of the oil and natural gas company’s stock worth $609,000 after purchasing an additional 279 shares in the last quarter. Finally, Park National Corp OH boosted its holdings in shares of Diamondback Energy by 11.3% during the 4th quarter. Park National Corp OH now owns 45,281 shares of the oil and natural gas company’s stock valued at $7,418,000 after purchasing an additional 4,580 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 2.3 %

Shares of FANG stock traded up $3.94 during mid-day trading on Friday, hitting $174.93. The stock had a trading volume of 1,705,217 shares, compared to its average volume of 1,891,259. The firm has a market capitalization of $51.08 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The firm’s 50-day moving average is $170.78 and its two-hundred day moving average is $184.12.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company earned $5.49 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 16.51 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FANG shares. JPMorgan Chase & Co. began coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 target price on the stock. KeyCorp decreased their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Benchmark reissued a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. UBS Group decreased their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Finally, The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.83.

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.