United Capital Financial Advisors LLC Has $1.17 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

United Capital Financial Advisors LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,126 shares of the oil and natural gas company’s stock after acquiring an additional 118 shares during the period. United Capital Financial Advisors LLC’s holdings in Diamondback Energy were worth $1,167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in shares of Diamondback Energy during the 4th quarter worth $29,000. UMB Bank n.a. grew its stake in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc lifted its position in shares of 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. Finally, Rakuten Securities Inc. boosted its holdings in shares of Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after acquiring an additional 106 shares during the period. 90.01% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FANG. Williams Trading set a $190.00 price objective on Diamondback Energy in a report on Wednesday, March 5th. Wells Fargo & Company reduced their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their target price on shares of Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Mizuho boosted their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Finally, Truist Financial increased their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.13.

Diamondback Energy Price Performance

FANG stock opened at $137.64 on Friday. The firm has a market cap of $40.48 billion, a P/E ratio of 7.88, a P/E/G ratio of 1.24 and a beta of 1.44. The firm’s fifty day moving average is $147.14 and its 200 day moving average is $164.93. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. 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 (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, March 6th. 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.