Dynasty Wealth Management LLC Sells 1,129 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Dynasty Wealth Management LLC reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,870 shares of the oil and natural gas company’s stock after selling 1,129 shares during the period. Dynasty Wealth Management LLC’s holdings in Diamondback Energy were worth $1,453,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. R Squared Ltd bought a new position in Diamondback Energy during the 4th quarter worth about $29,000. UMB Bank n.a. increased its holdings in Diamondback Energy by 247.3% during the fourth 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 period. Key Financial Inc raised its stake in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Diamondback Energy in the third quarter worth approximately $52,000. Finally, Synergy Asset Management LLC bought a new stake in Diamondback Energy during the fourth quarter valued at about $67,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 2.1 %

Shares of NASDAQ:FANG opened at $155.59 on Friday. The firm has a market capitalization of $45.43 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 1 year low of $151.00 and a 1 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 firm’s 50-day moving average is $165.34 and its two-hundred day moving average is $175.63.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a dividend of $1.00 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.57%. Diamondback Energy’s dividend payout ratio is 25.32%.

Analyst Ratings Changes

Several research analysts recently issued reports on FANG shares. JPMorgan Chase & Co. upped their target price on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Mizuho raised their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Truist Financial boosted their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $216.09.

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.