Kovack Advisors Inc. Increases Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Kovack Advisors Inc. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,988 shares of the oil and natural gas company’s stock after purchasing an additional 108 shares during the period. Kovack Advisors Inc.’s holdings in Diamondback Energy were worth $2,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. Patriot Financial Group Insurance Agency LLC grew its position in Diamondback Energy by 3.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock valued at $278,000 after buying an additional 64 shares during the period. Coldstream Capital Management Inc. grew its position in Diamondback Energy by 1.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock valued at $566,000 after buying an additional 64 shares during the period. MCF Advisors LLC grew its position in Diamondback Energy by 8.6% during the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after buying an additional 67 shares during the period. Veracity Capital LLC boosted its position in Diamondback Energy by 3.5% during the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock worth $319,000 after purchasing an additional 70 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in Diamondback Energy by 2.5% during the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of research reports. BMO Capital Markets increased their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 13th. KeyCorp increased their target price on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Monday, March 4th. Raymond James cut their price objective on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Piper Sandler boosted their price objective on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $202.53.

Diamondback Energy Trading Up 0.3 %

Shares of FANG traded up $0.66 during mid-day trading on Friday, reaching $207.76. The company’s stock had a trading volume of 1,183,884 shares, compared to its average volume of 1,724,379. The stock has a market cap of $37.05 billion, a PE ratio of 11.98 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The company’s fifty day moving average price is $193.25 and its two-hundred day moving average price is $169.49.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $5.29 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, analysts predict that Diamondback Energy, Inc. will post 18.83 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is presently 20.76%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by company insiders.

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.