TCG Advisory Services LLC Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

TCG Advisory Services LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 887.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,800 shares of the oil and natural gas company’s stock after purchasing an additional 30,376 shares during the period. TCG Advisory Services LLC’s holdings in Diamondback Energy were worth $5,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BKM Wealth Management LLC purchased a new stake in Diamondback Energy during the 4th quarter worth approximately $27,000. BluePath Capital Management LLC purchased a new stake in shares of Diamondback Energy during the third quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Diamondback Energy in the 4th quarter valued at $34,000. CVA Family Office LLC acquired a new position in Diamondback Energy in the 4th quarter valued at $35,000. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in 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 valued at $40,000 after purchasing an additional 218 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Truist Financial increased their price target on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Evercore ISI boosted their price objective on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Bank Of America (Bofa) reduced their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. Finally, Barclays started coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $204.37.

Diamondback Energy Trading Up 2.0 %

Diamondback Energy stock traded up $3.87 during midday trading on Friday, reaching $201.50. 1,873,837 shares of the stock traded hands, compared to its average volume of 1,530,138. The company has a current ratio of 0.92, a quick ratio of 0.74 and a debt-to-equity ratio of 0.37. The firm has a market cap of $35.94 billion, a PE ratio of 11.36 and a beta of 1.91. The company has a 50-day simple moving average of $195.49 and a two-hundred day simple moving average of $170.81. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the firm posted $4.10 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 18.91 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.79%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the completion of the sale, the executive vice president now directly owns 44,445 shares of the company’s stock, valued at $8,619,663.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock valued at $11,311,096 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

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.