Cerity Partners LLC Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Cerity Partners LLC raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,695 shares of the oil and natural gas company’s stock after purchasing an additional 1,274 shares during the quarter. Cerity Partners LLC’s holdings in Diamondback Energy were worth $4,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at about $27,000. BluePath Capital Management LLC bought a new stake in shares of Diamondback Energy during the third quarter valued at about $28,000. FinTrust Capital Advisors LLC increased its position in shares of Diamondback Energy by 232.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock valued at $29,000 after buying an additional 149 shares during the period. Carolinas Wealth Consulting LLC increased its position in shares of Diamondback Energy by 366.7% during the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 176 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Diamondback Energy during the third quarter valued at about $32,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FANG shares. Scotiabank upped their price target on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. KeyCorp upped their price objective on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Barclays started coverage on shares of Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective on the stock. Piper Sandler upped their price objective on shares of Diamondback Energy from $222.00 to $227.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Finally, Raymond James decreased their price objective on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $195.95.

Diamondback Energy Stock Down 0.7 %

Shares of NASDAQ FANG opened at $203.95 on Wednesday. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The firm’s 50 day simple moving average is $187.00 and its two-hundred day simple moving average is $166.74. The stock has a market capitalization of $36.37 billion, a P/E ratio of 11.76 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.29 earnings per share. As a group, analysts expect that Diamondback Energy, Inc. will post 18.47 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is 20.76%.

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.