Allworth Financial LP Increases Stake in Diamondback Energy, Inc. $FANG

Allworth Financial LP boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1,385.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,068 shares of the oil and natural gas company’s stock after acquiring an additional 29,909 shares during the period. Allworth Financial LP’s holdings in Diamondback Energy were worth $4,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC grew its holdings in Diamondback Energy by 2,390.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 2,490 shares of the oil and natural gas company’s stock worth $374,000 after acquiring an additional 2,390 shares during the period. Independent Advisor Alliance grew its stake in Diamondback Energy by 31.1% during the 4th quarter. Independent Advisor Alliance now owns 4,883 shares of the oil and natural gas company’s stock valued at $734,000 after acquiring an additional 1,157 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Diamondback Energy by 7.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 4,213 shares of the oil and natural gas company’s stock valued at $633,000 after buying an additional 274 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at about $1,371,000. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Diamondback Energy by 14.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 2,937 shares of the oil and natural gas company’s stock valued at $441,000 after buying an additional 369 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $203.56 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $191.72 and its two-hundred day moving average is $167.76. The company has a market cap of $57.26 billion, a P/E ratio of 236.70 and a beta of 0.46. Diamondback Energy, Inc. has a 12 month low of $132.20 and a 12 month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.54 EPS. On average, equities analysts expect that Diamondback Energy, Inc. will post 18.93 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be given a dividend of $1.10 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 511.63%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FANG. Truist Financial set a $242.00 target price on Diamondback Energy in a report on Wednesday, May 6th. Citigroup boosted their target price on Diamondback Energy from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, March 30th. Wells Fargo & Company boosted their target price on Diamondback Energy from $202.00 to $262.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. The Goldman Sachs Group boosted their target price on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Finally, Roth Mkm restated a “neutral” rating and issued a $205.00 target price on shares of Diamondback Energy in a report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $218.25.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CFO Jere W. Thompson III sold 750 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $182.47, for a total value of $136,852.50. Following the sale, the chief financial officer directly owned 19,975 shares in the company, valued at $3,644,838.25. This represents a 3.62% 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 Charles Alvin Meloy sold 7,857 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $189.20, for a total value of $1,486,544.40. Following the completion of the sale, the director owned 942,721 shares in the company, valued at $178,362,813.20. This trade represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 169,321 shares of company stock valued at $31,055,475 in the last quarter. 0.64% of the stock is currently owned by corporate insiders.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.