Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Welch Group LLC

Welch Group LLC grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.9% in the 4th quarter, HoldingsChannel reports. The firm owned 4,040 shares of the oil and natural gas company’s stock after acquiring an additional 151 shares during the quarter. Welch Group LLC’s holdings in Diamondback Energy were worth $650,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FANG. R Squared Ltd bought a new position in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. raised its position 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 during the last quarter. Values First Advisors Inc. purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at $42,000. CVA Family Office LLC grew its position in Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy during the third quarter valued at about $52,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on FANG. Susquehanna lowered their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Truist Financial increased their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Scotiabank reduced their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $164.48 on Tuesday. The stock has a market cap of $48.03 billion, a PE ratio of 9.41, a P/E/G ratio of 1.28 and a beta of 1.86. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The business’s 50-day moving average price is $168.98 and its two-hundred day moving average price is $180.59.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.49 earnings per share. As a group, analysts expect that Diamondback Energy, Inc. will post 15.5 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.19%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

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.