Capital Financial Group Inc. Co. ADV Buys Shares of 3,509 Diamondback Energy, Inc. $FANG

Capital Financial Group Inc. Co. ADV bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,509 shares of the oil and natural gas company’s stock, valued at approximately $528,000.

Other hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in Diamondback Energy in the fourth quarter valued at $25,000. Richardson Financial Services Inc. lifted its stake in Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy in the fourth quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in Diamondback Energy in the third quarter valued at $26,000. Finally, Wellington Shields & Co. LLC increased its holdings in shares of Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FANG. Susquehanna raised their price target on Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a report on Wednesday, May 6th. Piper Sandler raised their price target on Diamondback Energy from $215.00 to $248.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Morgan Stanley raised their price target on Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Raymond James Financial reissued a “strong-buy” rating and set a $249.00 price target on shares of Diamondback Energy in a report on Wednesday, June 10th. Finally, Wall Street Zen raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $223.63.

Insider Activity

In related news, Director Steven E. West sold 6,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total transaction of $1,130,100.00. Following the transaction, the director directly owned 4,484 shares of the company’s stock, valued at $844,561.40. The trade was a 57.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 53,315 shares of company stock valued at $10,414,384 over the last quarter. Insiders own 0.64% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $189.96 on Tuesday. The business’s 50-day moving average price is $195.63 and its 200 day moving average price is $175.86. The firm has a market cap of $53.44 billion, a P/E ratio of 220.89 and a beta of 0.42. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.54 earnings per share. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. Diamondback Energy’s dividend payout ratio is presently 511.63%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.