Diamondback Energy, Inc. $FANG Stock Position Raised by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 403.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,438 shares of the oil and natural gas company’s stock after acquiring an additional 8,366 shares during the period. J.W. Cole Advisors Inc.’s holdings in Diamondback Energy were worth $1,434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $28,000. SouthState Corp grew its stake in Diamondback Energy by 596.4% during the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 167 shares during the last quarter. Eastern Bank increased its position in Diamondback Energy by 119.8% in the first quarter. Eastern Bank now owns 233 shares of the oil and natural gas company’s stock worth $37,000 after buying an additional 127 shares during the period. Zions Bancorporation National Association UT bought a new stake in Diamondback Energy in the first quarter valued at $43,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Diamondback Energy by 49.6% in the second quarter. Creative Financial Designs Inc. ADV now owns 368 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 122 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

NASDAQ FANG opened at $152.42 on Friday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $180.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market capitalization of $43.65 billion, a PE ratio of 10.59 and a beta of 0.99. The company’s 50 day simple moving average is $144.53 and its 200 day simple moving average is $142.93.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 earnings per share. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.6%. Diamondback Energy’s dividend payout ratio (DPR) is currently 27.80%.

Analysts Set New Price Targets

A number of research firms recently weighed in on FANG. Barclays dropped their price objective on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Evercore ISI raised their price target on shares of Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research report on Thursday, October 9th. Melius initiated coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Diamondback Energy from $160.00 to $169.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average price target of $188.77.

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.