Foundations Investment Advisors LLC Buys 344 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Foundations Investment Advisors LLC boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 10.8% during the fourth quarter, Holdings Channel reports. The firm owned 3,524 shares of the oil and natural gas company’s stock after purchasing an additional 344 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Diamondback Energy were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in Diamondback Energy during the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Diamondback Energy in the fourth quarter worth approximately $34,000. CVA Family Office LLC bought a new position in Diamondback Energy in the fourth quarter worth approximately $35,000. Cary Street Partners Investment Advisory LLC raised its position in Diamondback Energy by 559.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after acquiring an additional 218 shares during the period. Finally, First Horizon Advisors Inc. raised its position in Diamondback Energy by 37.3% in the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 87 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. Insiders sold 58,575 shares of company stock valued at $11,491,006 in the last three months. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on FANG. Truist Financial increased their price target on shares of Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. KeyCorp raised their price objective on shares of Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Barclays started coverage on shares of Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, UBS Group raised their price objective on shares of Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.95.

Check Out Our Latest Report on FANG

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $197.67 on Friday. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The stock has a market capitalization of $35.25 billion, a P/E ratio of 11.14 and a beta of 1.91. The firm has a fifty day simple moving average of $199.41 and a two-hundred day simple moving average of $173.30. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.10 billion. During the same period last year, the company posted $4.10 EPS. The business’s revenue was up 15.7% on a year-over-year basis. On average, analysts expect that Diamondback Energy, Inc. will post 19.01 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.82%. Diamondback Energy’s payout ratio is currently 20.29%.

Diamondback Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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