Consolidated Planning Corp Acquires New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Consolidated Planning Corp acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,723 shares of the oil and natural gas company’s stock, valued at approximately $1,043,000.

Other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after purchasing an additional 858,446 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in Diamondback Energy during the third quarter worth about $128,720,000. Wellington Management Group LLP increased its holdings in shares of Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after buying an additional 648,317 shares during the period. Raymond James & Associates increased its holdings in shares of Diamondback Energy by 143.0% in the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after buying an additional 577,514 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Diamondback Energy by 286.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock worth $92,380,000 after buying an additional 441,411 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on FANG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. Truist Financial lifted their price objective on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Morgan Stanley decreased their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Mizuho lifted their price objective on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Susquehanna boosted their price target on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a report on Monday, April 22nd. 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 given 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 price target of $202.53.

Insider Transactions at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the sale, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Up 0.3 %

Diamondback Energy stock traded up $0.66 during trading hours on Friday, hitting $207.76. 1,184,009 shares of the stock traded hands, compared to its average volume of 1,327,313. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $193.25 and its two-hundred day moving average price is $169.49. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96. The company has a market cap of $37.05 billion, a PE ratio of 11.98 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted $5.29 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts forecast that Diamondback Energy, Inc. will post 18.83 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were given a $3.08 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s payout ratio is currently 20.76%.

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.