Financial Advocates Investment Management Acquires 142 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Financial Advocates Investment Management lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,049 shares of the oil and natural gas company’s stock after acquiring an additional 142 shares during the period. Financial Advocates Investment Management’s holdings in Diamondback Energy were worth $336,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FANG. Caitlin John LLC lifted its stake in Diamondback Energy by 20.0% in the 4th quarter. Caitlin John LLC now owns 503 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 84 shares in the last quarter. Legacy CG LLC increased its holdings in shares of Diamondback Energy by 2.6% in the fourth quarter. Legacy CG LLC now owns 29,299 shares of the oil and natural gas company’s stock worth $4,800,000 after purchasing an additional 738 shares during the period. Choreo LLC raised its position in shares of Diamondback Energy by 8.9% in the fourth quarter. Choreo LLC now owns 8,124 shares of the oil and natural gas company’s stock worth $1,310,000 after buying an additional 664 shares in the last quarter. Tectonic Advisors LLC boosted its stake in Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after buying an additional 8,704 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Diamondback Energy by 26.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,438 shares of the oil and natural gas company’s stock worth $14,537,000 after buying an additional 18,985 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Susquehanna decreased their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Truist Financial raised their price objective on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Diamondback Energy Trading Down 1.2 %

FANG opened at $158.13 on Monday. Diamondback Energy, Inc. has a one year low of $151.25 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a 50 day simple moving average of $167.54 and a two-hundred day simple moving average of $179.30. The firm has a market capitalization of $46.17 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.24 and a beta of 1.86.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is 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.