Moors & Cabot Inc. Acquires 247 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Moors & Cabot Inc. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,821 shares of the oil and natural gas company’s stock after purchasing an additional 247 shares during the period. Moors & Cabot Inc.’s holdings in Diamondback Energy were worth $626,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Diamondback Energy during the fourth quarter valued at $29,000. UMB Bank n.a. raised its position in shares of 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 worth $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc raised its position in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares during the last quarter. Smithfield Trust Co boosted its stake in Diamondback Energy by 37.8% in the 4th quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 85 shares in the last quarter. Finally, Briaud Financial Planning Inc purchased a new stake in Diamondback Energy during the 4th quarter valued at about $57,000. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

NASDAQ FANG opened at $150.20 on Friday. The stock has a market cap of $43.47 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 1.24 and a beta of 1.84. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The company’s 50 day moving average is $162.00 and its two-hundred day moving average is $171.85. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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 for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.66%. Diamondback Energy’s dividend payout ratio is 25.32%.

Analyst Ratings Changes

Several brokerages have recently issued reports on FANG. Piper Sandler dropped their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Truist Financial upped their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Citigroup downgraded Diamondback Energy from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Finally, Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $211.92.

Diamondback Energy 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.