Silver Oak Securities Incorporated Has $513,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Silver Oak Securities Incorporated reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 29.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,187 shares of the oil and natural gas company’s stock after selling 1,357 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Diamondback Energy were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of FANG. R Squared Ltd bought a new position in shares of Diamondback Energy during the 4th quarter worth about $29,000. UMB Bank n.a. increased its stake in 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 valued at $31,000 after acquiring an additional 136 shares during the period. Values First Advisors Inc. acquired a new position in Diamondback Energy in the 3rd quarter valued at approximately $42,000. CVA Family Office LLC lifted its position in shares of Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $52,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

Shares of FANG stock opened at $158.13 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $167.93 and its 200-day moving average is $179.75. Diamondback Energy, Inc. has a 1 year low of $151.25 and a 1 year high of $214.50. The firm has a market capitalization of $46.17 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.28 and a beta of 1.86.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.28%. Diamondback Energy’s payout ratio is currently 20.61%.

Analysts Set New Price Targets

FANG has been the subject of a number of recent research reports. Raymond James upped their target price on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Susquehanna reduced their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a report on Friday, October 18th. Benchmark reissued a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. Mizuho cut their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, UBS Group lowered their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s 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 transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.48% of the company’s stock.

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.