Carolinas Wealth Consulting LLC Acquires 733 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Carolinas Wealth Consulting LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 458.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 893 shares of the oil and natural gas company’s stock after purchasing an additional 733 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Diamondback Energy were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after buying an additional 928,429 shares during the period. Boston Partners grew its stake in Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after acquiring an additional 571,820 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock worth $769,706,000 after acquiring an additional 91,605 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after acquiring an additional 502,916 shares in the last quarter. Finally, Demars Financial Group LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $638,050,000. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup raised Diamondback Energy from a “reduce” rating to a “buy” rating and lifted their target price for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Evercore ISI assumed coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price objective on the stock. Susquehanna cut their price target on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Scotiabank cut their target price on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $193.09.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the sale, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $135.86 on Tuesday. The business has a fifty day moving average of $139.52 and a 200 day moving average of $156.07. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $39.69 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the firm earned $4.50 earnings per share. Diamondback Energy’s revenue for the quarter was up 81.8% on a year-over-year basis. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.94%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s payout ratio is 24.46%.

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.