EverSource Wealth Advisors LLC Has $278,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

EverSource Wealth Advisors LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,796 shares of the oil and natural gas company’s stock after purchasing an additional 189 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Diamondback Energy were worth $278,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Diamondback Energy by 1.9% during the 2nd quarter. Parallel Advisors LLC now owns 8,596 shares of the oil and natural gas company’s stock worth $1,129,000 after acquiring an additional 162 shares during the last quarter. Ziegler Capital Management LLC grew its position in Diamondback Energy by 0.8% during the second quarter. Ziegler Capital Management LLC now owns 18,929 shares of the oil and natural gas company’s stock valued at $2,487,000 after buying an additional 149 shares during the period. Illinois Municipal Retirement Fund grew its position in Diamondback Energy by 29.1% during the second quarter. Illinois Municipal Retirement Fund now owns 80,435 shares of the oil and natural gas company’s stock valued at $10,566,000 after buying an additional 18,137 shares during the period. Principal Financial Group Inc. grew its position in Diamondback Energy by 2.8% during the third quarter. Principal Financial Group Inc. now owns 610,237 shares of the oil and natural gas company’s stock valued at $94,510,000 after buying an additional 16,426 shares during the period. Finally, SCP Investment LP bought a new position in Diamondback Energy during the third quarter valued at about $279,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

FANG traded down $0.08 on Friday, reaching $156.24. The company had a trading volume of 1,442,848 shares, compared to its average volume of 1,582,819. The business has a 50 day simple moving average of $153.68 and a 200 day simple moving average of $152.99. The company has a market cap of $27.97 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 0.37 and a beta of 1.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 0.89. Diamondback Energy, Inc. has a 52-week low of $119.01 and a 52-week high of $171.40.

Diamondback Energy (NASDAQ:FANGGet Free Report) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $5.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.90 by $0.59. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.21 billion. Diamondback Energy had a net margin of 38.84% and a return on equity of 20.66%. Diamondback Energy’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the firm posted $6.48 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.03 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Thursday, November 16th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Wednesday, November 15th. Diamondback Energy’s dividend payout ratio is currently 19.07%.

Analyst Ratings Changes

Several research firms recently weighed in on FANG. Piper Sandler reduced their price target on shares of Diamondback Energy from $206.00 to $201.00 and set an “overweight” rating for the company in a research report on Wednesday. Benchmark restated a “buy” rating and set a $154.00 price target on shares of Diamondback Energy in a research report on Thursday, October 12th. Mizuho dropped their price objective on shares of Diamondback Energy from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Friday, January 12th. Stifel Nicolaus dropped their price objective on shares of Diamondback Energy from $194.00 to $192.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Citigroup downgraded shares of Diamondback Energy from a “buy” rating to a “neutral” rating and upped their price objective for the company from $160.00 to $170.00 in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $176.12.

View Our Latest Report on Diamondback Energy

About Diamondback Energy

(Free Report)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.

See Also

Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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