Maripau Wealth Management LLC Acquires Shares of 2,314 Diamondback Energy, Inc. (NASDAQ:FANG)

Maripau Wealth Management LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,314 shares of the oil and natural gas company’s stock, valued at approximately $379,000.

Other large investors have also bought and sold shares of the company. Swedbank AB lifted its stake in Diamondback Energy by 28.0% during the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after acquiring an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Diamondback Energy by 631.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after purchasing an additional 37,246 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after purchasing an additional 47,951 shares during the last quarter. Tectonic Advisors LLC increased its position in shares of Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after purchasing an additional 8,704 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Diamondback Energy by 368.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after purchasing an additional 7,694 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FANG shares. JPMorgan Chase & Co. raised their target price on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley raised their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Piper Sandler decreased their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Raymond James raised their target price on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.09.

Diamondback Energy Stock Up 2.2 %

FANG stock opened at $158.96 on Friday. The firm has a market capitalization of $46.41 billion, a PE ratio of 9.10, a PEG ratio of 1.24 and a beta of 1.86. 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 stock has a 50-day simple moving average of $165.42 and a two-hundred day simple moving average of $175.33. Diamondback Energy, Inc. has a twelve month low of $151.00 and a twelve month high of $214.50.

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

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

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.