Howard Financial Services LTD. Buys 283 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Howard Financial Services LTD. raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,893 shares of the oil and natural gas company’s stock after purchasing an additional 283 shares during the period. Howard Financial Services LTD.’s holdings in Diamondback Energy were worth $310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC grew its position in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $42,000. CVA Family Office LLC increased its position in shares of Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 65 shares during the period. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after buying an additional 136 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy during the 3rd quarter worth about $52,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FANG. Mizuho cut their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price on the stock. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Wednesday, November 6th. Finally, Truist Financial raised their price objective on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $180.18 on Friday. The business has a 50-day moving average of $170.60 and a 200-day moving average of $183.24. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $52.61 billion, a P/E ratio of 10.31, a PEG ratio of 1.33 and a beta of 1.88. Diamondback Energy, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company earned $5.49 EPS. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 16.08 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. Diamondback Energy’s payout ratio is 20.61%.

About Diamondback Energy

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.