Auxano Advisors LLC Invests $282,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Auxano Advisors LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,819 shares of the oil and natural gas company’s stock, valued at approximately $282,000.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC raised its position in shares of Diamondback Energy by 1.8% during the fourth quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock worth $3,058,000 after purchasing an additional 354 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Diamondback Energy by 145.2% in the fourth quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after buying an additional 7,102 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Diamondback Energy by 748.0% during the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock valued at $2,361,000 after buying an additional 13,426 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Diamondback Energy by 613.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after acquiring an additional 13,243 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Diamondback Energy by 143.0% in the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after acquiring an additional 577,514 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the transaction, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 in the last quarter. 0.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FANG shares. Truist Financial lifted their price target on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Stifel Nicolaus increased their price target on Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Bank Of America (Bofa) cut their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. Evercore ISI increased their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Finally, Morgan Stanley cut their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $202.53.

Diamondback Energy Stock Performance

NASDAQ:FANG traded down $4.73 on Tuesday, reaching $201.13. 2,038,094 shares of the company’s stock were exchanged, compared to its average volume of 1,728,076. The stock has a fifty day simple moving average of $193.78 and a 200-day simple moving average of $169.96. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The firm has a market cap of $35.87 billion, a price-to-earnings ratio of 11.87 and a beta of 1.93.

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

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 6.13%. Diamondback Energy’s dividend payout ratio is 20.76%.

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.