Farther Finance Advisors LLC Acquires 287 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Farther Finance Advisors LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 36.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,085 shares of the oil and natural gas company’s stock after acquiring an additional 287 shares during the period. Farther Finance Advisors LLC’s holdings in Diamondback Energy were worth $174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth approximately $28,000. Fourth Dimension Wealth LLC bought a new stake in Diamondback Energy during the fourth quarter worth $33,000. Transce3nd LLC purchased a new stake in Diamondback Energy in the 4th quarter valued at $38,000. Ancora Advisors LLC lifted its stake in Diamondback Energy by 182.9% during the 4th quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Wood Tarver Financial Group LLC purchased a new position in Diamondback Energy during the 4th quarter worth $38,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an “overweight” rating in a report on Monday. Bank of America increased their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. UBS Group dropped their target price on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Barclays reduced their target price on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Citigroup raised Diamondback Energy from a “reduce” rating to a “buy” rating and boosted their price objective for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $193.13.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $148.78 on Friday. The firm’s 50 day moving average is $138.78 and its 200 day moving average is $151.94. The stock has a market capitalization of $43.47 billion, a P/E ratio of 9.10, a PEG ratio of 1.35 and a beta of 1.06. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.50 EPS. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.69%. Diamondback Energy’s payout ratio is 24.46%.

Insider Buying and Selling

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by insiders.

Diamondback Energy 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.