Asio Capital LLC Acquires 1,124 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Asio Capital LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 32,646 shares of the oil and natural gas company’s stock after purchasing an additional 1,124 shares during the period. Diamondback Energy comprises approximately 1.0% of Asio Capital LLC’s portfolio, making the stock its 26th largest holding. Asio Capital LLC’s holdings in Diamondback Energy were worth $5,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in shares of Diamondback Energy by 2.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 26,441 shares of the oil and natural gas company’s stock valued at $5,294,000 after purchasing an additional 728 shares in the last quarter. AXA S.A. boosted its position in Diamondback Energy by 35.4% during the 2nd quarter. AXA S.A. now owns 25,167 shares of the oil and natural gas company’s stock valued at $5,038,000 after acquiring an additional 6,575 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $2,493,000. Lighthouse Investment Partners LLC bought a new position in shares of Diamondback Energy in the 2nd quarter worth approximately $213,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FANG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday. KeyCorp decreased their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Piper Sandler lowered their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. upped their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Insider Activity at Diamondback Energy

In other Diamondback Energy 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 value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by company insiders.

Diamondback Energy Trading Down 1.9 %

Diamondback Energy stock opened at $173.26 on Friday. Diamondback Energy, Inc. has a 52-week low of $147.93 and a 52-week high of $214.50. The company has a market cap of $50.59 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.44 and a beta of 1.88. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business has a 50-day simple moving average of $170.28 and a two-hundred day simple moving average of $182.26.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm posted $5.49 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts predict that Diamondback Energy, Inc. will post 15.58 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.08%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

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.