Diamondback Energy, Inc. $FANG Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 71.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,113 shares of the oil and natural gas company’s stock after acquiring an additional 3,800 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Diamondback Energy were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FANG. Flagship Harbor Advisors LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $25,000. JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $26,000. Richardson Financial Services Inc. lifted its stake in shares of Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 125 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Diamondback Energy by 106.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 102 shares during the period. Finally, Salomon & Ludwin LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $31,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 4,101 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $190.51, for a total transaction of $781,281.51. Following the completion of the sale, the executive vice president owned 56,392 shares of the company’s stock, valued at $10,743,239.92. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Alvin Meloy sold 7,857 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $193.93, for a total transaction of $1,523,708.01. Following the sale, the director directly owned 958,435 shares of the company’s stock, valued at $185,869,299.55. The trade was a 0.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,217,069 shares of company stock valued at $201,213,109. 0.64% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of Diamondback Energy from $182.00 to $199.00 and gave the company a “positive” rating in a research note on Wednesday, February 25th. Piper Sandler upped their price objective on shares of Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $202.00 to $262.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Sanford C. Bernstein reduced their price objective on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, Barclays upped their price objective on shares of Diamondback Energy from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $208.05.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $205.32 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.42. The company has a fifty day moving average of $186.80 and a two-hundred day moving average of $163.83. The stock has a market capitalization of $57.76 billion, a PE ratio of 36.60 and a beta of 0.50. Diamondback Energy, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $205.87.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the prior year, the company posted $3.67 earnings per share. The business’s revenue was down 9.0% on a year-over-year basis. As a group, research analysts forecast that Diamondback Energy, Inc. will post 17.71 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were issued a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, March 5th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.0%. Diamondback Energy’s payout ratio is currently 74.87%.

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.