Oppenheimer Asset Management Inc. Has $9.07 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Oppenheimer Asset Management Inc. reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,386 shares of the oil and natural gas company’s stock after selling 778 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Diamondback Energy were worth $9,074,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new position in Diamondback Energy during the 4th quarter valued at about $29,000. UMB Bank n.a. increased its holdings in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc raised its stake in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Diamondback Energy during the 3rd quarter worth approximately $52,000. Finally, Synergy Asset Management LLC acquired a new stake in Diamondback Energy during the 4th quarter valued at $67,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FANG. Wells Fargo & Company increased their target price on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. increased their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Piper Sandler dropped their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Morgan Stanley upped their price objective on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $216.09.

Diamondback Energy Stock Up 2.1 %

Diamondback Energy stock opened at $155.59 on Friday. The company has a 50 day moving average of $165.34 and a 200-day moving average of $175.63. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $151.00 and a twelve month high of $214.50. The stock has a market capitalization of $45.43 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a $1.00 dividend. The ex-dividend date is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.57%. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Diamondback Energy Company 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.