Proficio Capital Partners LLC Buys New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Proficio Capital Partners LLC bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 209,523 shares of the oil and natural gas company’s stock, valued at approximately $34,326,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. First Trust Direct Indexing L.P. boosted its position in shares of Diamondback Energy by 2.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,720 shares of the oil and natural gas company’s stock valued at $986,000 after purchasing an additional 141 shares in the last quarter. Financial Advocates Investment Management boosted its position in shares of Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after purchasing an additional 55 shares in the last quarter. HM Payson & Co. boosted its position in shares of Diamondback Energy by 19.8% during the 3rd quarter. HM Payson & Co. now owns 10,292 shares of the oil and natural gas company’s stock valued at $1,774,000 after purchasing an additional 1,700 shares in the last quarter. US Bancorp DE boosted its position in shares of Diamondback Energy by 1.9% during the 3rd quarter. US Bancorp DE now owns 25,715 shares of the oil and natural gas company’s stock valued at $4,433,000 after purchasing an additional 472 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in shares of Diamondback Energy by 483.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 30,407 shares of the oil and natural gas company’s stock valued at $5,242,000 after purchasing an additional 25,193 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial upped their target price on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Mizuho increased their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Friday, January 3rd. UBS Group increased their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued 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 a consensus price target of $216.09.

Diamondback Energy Stock Performance

Shares of FANG opened at $158.96 on Friday. 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 company has a market capitalization of $46.41 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.24 and a beta of 1.86. The stock has a 50 day moving average of $165.42 and a 200 day moving average of $175.33. Diamondback Energy, Inc. has a 12 month low of $151.00 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.52%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. Diamondback Energy’s dividend payout ratio is 25.32%.

Diamondback Energy Company 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.