Franklin Resources Inc. Acquires 6,240 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Franklin Resources Inc. increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,633 shares of the oil and natural gas company’s stock after buying an additional 6,240 shares during the quarter. Franklin Resources Inc.’s holdings in Diamondback Energy were worth $7,852,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. MCF Advisors LLC lifted its position in shares of Diamondback Energy by 8.6% during the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock worth $131,000 after buying an additional 67 shares during the last quarter. Bleakley Financial Group LLC raised its position in Diamondback Energy by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after purchasing an additional 75 shares during the last quarter. Simplicity Solutions LLC raised its position in Diamondback Energy by 2.5% in the fourth quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after purchasing an additional 75 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in Diamondback Energy by 3.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 2,796 shares of the oil and natural gas company’s stock valued at $434,000 after purchasing an additional 82 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its position in Diamondback Energy by 1.4% in the third quarter. Dana Investment Advisors Inc. now owns 6,221 shares of the oil and natural gas company’s stock valued at $964,000 after purchasing an additional 84 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FANG. Morgan Stanley dropped their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Monday. UBS Group raised their price objective on Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Barclays initiated coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective for the company. Finally, Piper Sandler raised their price objective on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.95.

View Our Latest Stock Analysis on Diamondback Energy

Diamondback Energy Trading Up 1.2 %

Shares of Diamondback Energy stock opened at $197.34 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The stock has a 50 day moving average price of $200.41 and a two-hundred day moving average price of $175.54. The stock has a market capitalization of $35.19 billion, a PE ratio of 11.12 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANGGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the firm posted $4.10 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 19.04 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were issued a $0.90 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.82%. Diamondback Energy’s dividend payout ratio is presently 20.29%.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction 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 sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were 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 in the company, valued at $35,470,003.24. The disclosure for this sale can be found here. Insiders have sold 64,575 shares of company stock worth $12,673,846 over the last 90 days. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Profile

(Free Report)

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.

See Also

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

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