Pallas Capital Advisors LLC Boosts Holdings in Diamondback Energy, Inc. $FANG

Pallas Capital Advisors LLC increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 16.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,781 shares of the oil and natural gas company’s stock after acquiring an additional 3,418 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Diamondback Energy were worth $3,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new position in Diamondback Energy in the third quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Diamondback Energy by 106.3% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 102 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $31,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $38,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Steven E. West sold 6,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director owned 4,484 shares in the company, valued at $844,561.40. This represents a 57.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matt Zmigrosky sold 20,899 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $180.00, for a total value of $3,761,820.00. Following the sale, the executive vice president directly owned 60,493 shares of the company’s stock, valued at approximately $10,888,740. This represents a 25.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,209,212 shares of company stock valued at $199,689,401. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on FANG. Wells Fargo & Company raised their price target on Diamondback Energy from $171.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Morgan Stanley boosted their price objective on Diamondback Energy from $171.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. The Goldman Sachs Group increased their price objective on Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Finally, Sanford C. Bernstein lowered their target price on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $196.81.

Diamondback Energy Price Performance

Shares of FANG opened at $201.84 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.42. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $204.91. The firm has a 50-day simple moving average of $173.12 and a 200-day simple moving average of $155.90. The company has a market capitalization of $56.78 billion, a price-to-earnings ratio of 35.98 and a beta of 0.59.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.26). The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.41 billion. Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. The business’s revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.67 EPS. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, March 5th were paid a $1.05 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 5th. This represents a $4.20 annualized dividend and a dividend yield of 2.1%. Diamondback Energy’s dividend payout ratio (DPR) is 74.87%.

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.