Empowered Funds LLC Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Empowered Funds LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,364 shares of the oil and natural gas company’s stock after buying an additional 17,256 shares during the quarter. Empowered Funds LLC’s holdings in Diamondback Energy were worth $21,358,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FANG. R Squared Ltd purchased a new stake in shares of Diamondback Energy in the 4th quarter worth $29,000. UMB Bank n.a. lifted its stake in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy during the 3rd quarter worth $42,000. CVA Family Office LLC lifted its stake in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy during the 3rd quarter worth $52,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’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 owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FANG. UBS Group decreased their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Piper Sandler decreased their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $215.00.

Diamondback Energy Stock Down 1.2 %

Diamondback Energy stock opened at $158.13 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a 50 day simple moving average of $167.54 and a 200-day simple moving average of $179.43. The stock has a market capitalization of $46.17 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 12 month low of $151.25 and a 12 month high of $214.50.

Diamondback Energy Dividend Announcement

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

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.