Slagle Financial LLC Buys New Shares in Diamondback Energy, Inc. $FANG

Slagle Financial LLC bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, Holdings Channel reports. The firm bought 13,006 shares of the oil and natural gas company’s stock, valued at approximately $1,955,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Townsend & Associates Inc raised its holdings in Diamondback Energy by 0.5% during the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock valued at $2,161,000 after acquiring an additional 75 shares during the period. Farther Finance Advisors LLC raised its holdings in Diamondback Energy by 31.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,217 shares of the oil and natural gas company’s stock valued at $333,000 after acquiring an additional 530 shares during the period. Sunpointe LLC raised its holdings in Diamondback Energy by 16.9% during the fourth quarter. Sunpointe LLC now owns 6,852 shares of the oil and natural gas company’s stock valued at $1,030,000 after acquiring an additional 991 shares during the period. Patton Fund Management Inc. bought a new stake in Diamondback Energy during the fourth quarter valued at about $216,000. Finally, Assetmark Inc. raised its holdings in Diamondback Energy by 16.1% during the fourth quarter. Assetmark Inc. now owns 297,945 shares of the oil and natural gas company’s stock valued at $44,790,000 after acquiring an additional 41,307 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Mizuho raised their price target on Diamondback Energy from $205.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Roth Mkm reissued a “neutral” rating and set a $200.00 price target (up from $180.00) on shares of Diamondback Energy in a report on Wednesday, April 8th. Scotiabank raised Diamondback Energy to a “strong-buy” rating in a report on Friday, March 27th. Freedom Capital raised Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Susquehanna raised their price target on Diamondback Energy from $182.00 to $199.00 and gave the company a “positive” rating in a report on Wednesday, February 25th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $203.95.

Insider Buying and Selling

In related news, EVP Matt Zmigrosky sold 4,101 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $190.51, for a total value of $781,281.51. Following the sale, the executive vice president directly owned 56,392 shares in the company, valued at approximately $10,743,239.92. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven E. West sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,217,069 shares of company stock valued at $201,213,109 in the last ninety days. Company insiders own 0.70% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $185.87 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $52.29 billion, a P/E ratio of 33.13 and a beta of 0.50. Diamondback Energy, Inc. has a 12 month low of $127.71 and a 12 month high of $204.91. The business’s 50-day moving average is $181.88 and its 200 day moving average is $160.51.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were given a $1.05 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, March 5th. Diamondback Energy’s dividend payout ratio (DPR) is presently 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.