SRS Capital Advisors Inc. Has $568,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

SRS Capital Advisors Inc. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 48.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,470 shares of the oil and natural gas company’s stock after acquiring an additional 1,128 shares during the period. SRS Capital Advisors Inc.’s holdings in Diamondback Energy were worth $568,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FANG. Financial Advocates Investment Management raised its holdings in Diamondback Energy by 3.0% during the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 55 shares during the last quarter. US Bancorp DE raised its holdings in shares of Diamondback Energy by 1.9% in the third quarter. US Bancorp DE now owns 25,715 shares of the oil and natural gas company’s stock valued at $4,433,000 after purchasing an additional 472 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Diamondback Energy by 136.6% during the third quarter. Farther Finance Advisors LLC now owns 1,822 shares of the oil and natural gas company’s stock valued at $314,000 after purchasing an additional 1,052 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Diamondback Energy by 2.0% during the third quarter. Chicago Partners Investment Group LLC now owns 4,584 shares of the oil and natural gas company’s stock valued at $830,000 after purchasing an additional 91 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Diamondback Energy by 8.0% during the third quarter. Janney Montgomery Scott LLC now owns 168,087 shares of the oil and natural gas company’s stock worth $28,978,000 after purchasing an additional 12,521 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Down 6.9 %

Shares of FANG stock opened at $148.00 on Tuesday. The company’s fifty day simple moving average is $165.25 and its two-hundred day simple moving average is $174.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 1 year low of $147.70 and a 1 year high of $214.50. The stock has a market capitalization of $42.84 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last issued its 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. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. As a group, analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a dividend of $1.00 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.70%. Diamondback Energy’s payout ratio is presently 25.32%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FANG shares. Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Raymond James boosted their target price on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Morgan Stanley boosted their target price on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler cut their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Four investment 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, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.09.

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.