Fifth Third Wealth Advisors LLC Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Fifth Third Wealth Advisors LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,172 shares of the oil and natural gas company’s stock after purchasing an additional 167 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Diamondback Energy were worth $356,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of FANG. Zimmer Partners LP purchased a new stake in Diamondback Energy in the third quarter valued at $87,924,000. Holocene Advisors LP boosted its stake in shares of Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after buying an additional 457,896 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the period. Canada Pension Plan Investment Board raised its position in Diamondback Energy by 280.8% during the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock valued at $109,144,000 after acquiring an additional 402,026 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Diamondback Energy by 17,151.2% in the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after acquiring an additional 338,050 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $180.18 on Friday. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The stock has a market cap of $52.61 billion, a PE ratio of 10.31, a P/E/G ratio of 1.33 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a 50 day moving average price of $170.60 and a 200 day moving average price of $183.24.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $5.49 earnings per share. Equities research analysts expect that Diamondback Energy, Inc. will post 16.08 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.00%. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FANG shares. Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Truist Financial upped their price objective on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Scotiabank dropped their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Mizuho reduced their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Citigroup started coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

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.