Fulcrum Equity Management Acquires New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Fulcrum Equity Management bought a new position in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) in the third quarter, HoldingsChannel reports. The fund bought 1,196 shares of the oil and natural gas company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. Carolinas Wealth Consulting LLC increased its stake in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Diamondback Energy in the second quarter valued at about $40,000. Values First Advisors Inc. acquired a new position in Diamondback Energy in the 3rd quarter worth about $42,000. CVA Family Office LLC raised its stake in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price target on the stock. Piper Sandler lifted their price objective on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Finally, Morgan Stanley raised their target price on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $212.17.

Check Out Our Latest Report on Diamondback Energy

Diamondback Energy Trading Up 0.5 %

Shares of FANG opened at $163.90 on Thursday. The stock’s 50-day moving average price is $180.99 and its 200 day moving average price is $188.60. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 1.23 and a beta of 1.88. Diamondback Energy, Inc. has a 12-month low of $146.82 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.49 earnings per share. As a group, research analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Diamondback Energy Company 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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