Abbot Financial Management Inc. Has $664,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Abbot Financial Management Inc. boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,051 shares of the oil and natural gas company’s stock after acquiring an additional 81 shares during the period. Abbot Financial Management Inc.’s holdings in Diamondback Energy were worth $664,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several research firms have weighed in on FANG. JPMorgan Chase & Co. lifted their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. UBS Group lifted their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Morgan Stanley upped their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $216.09.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $145.04 on Wednesday. The company’s 50 day moving average price is $165.00 and its two-hundred day moving average price is $174.34. The firm has a market capitalization of $41.98 billion, a P/E ratio of 8.30, a P/E/G ratio of 1.24 and a beta of 1.86. 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 fifty-two week low of $140.81 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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 business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.76%. Diamondback Energy’s dividend payout ratio is presently 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.