Pallas Capital Advisors LLC Has $2.06 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Pallas Capital Advisors LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,576 shares of the oil and natural gas company’s stock after purchasing an additional 208 shares during the period. Pallas Capital Advisors LLC’s holdings in Diamondback Energy were worth $2,060,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Fulcrum Capital LLC grew its position in Diamondback Energy by 1.2% during the fourth quarter. Fulcrum Capital LLC now owns 28,558 shares of the oil and natural gas company’s stock valued at $4,679,000 after purchasing an additional 332 shares in the last quarter. Moody National Bank Trust Division grew its holdings in shares of Diamondback Energy by 50.6% during the 4th quarter. Moody National Bank Trust Division now owns 30,120 shares of the oil and natural gas company’s stock valued at $4,935,000 after acquiring an additional 10,120 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Diamondback Energy by 0.6% during the 4th quarter. Salem Investment Counselors Inc. now owns 21,892 shares of the oil and natural gas company’s stock valued at $3,587,000 after acquiring an additional 120 shares in the last quarter. Fragasso Financial Advisors Inc increased its stake in shares of Diamondback Energy by 3.8% in the fourth quarter. Fragasso Financial Advisors Inc now owns 1,928 shares of the oil and natural gas company’s stock worth $316,000 after acquiring an additional 70 shares during the last quarter. Finally, Czech National Bank raised its holdings in shares of Diamondback Energy by 6.2% during the fourth quarter. Czech National Bank now owns 40,518 shares of the oil and natural gas company’s stock worth $6,638,000 after acquiring an additional 2,352 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the 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 transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on FANG shares. Truist Financial upped their target price on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group dropped their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Raymond James lifted their target price on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.08.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $177.61 on Tuesday. The firm has a fifty day moving average price of $170.72 and a two-hundred day moving average price of $183.62. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week 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 company has a market cap of $51.86 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share 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 return on equity of 13.68% and a net margin of 33.64%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $5.49 earnings per share. Analysts expect that Diamondback Energy, Inc. will post 16.51 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.