Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,988 shares of the oil and natural gas company’s stock after buying an additional 108 shares during the period. Kovack Advisors Inc.’s holdings in Diamondback Energy were worth $2,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC bought a new stake in Diamondback Energy during the third quarter worth approximately $247,000. Czech National Bank raised its holdings in Diamondback Energy by 45.7% during the third quarter. Czech National Bank now owns 31,253 shares of the oil and natural gas company’s stock worth $4,840,000 after purchasing an additional 9,806 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Diamondback Energy by 1.6% during the third quarter. Asset Management One Co. Ltd. now owns 68,545 shares of the oil and natural gas company’s stock worth $10,616,000 after purchasing an additional 1,062 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings 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 worth $278,000 after purchasing an additional 64 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in Diamondback Energy by 1.5% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,075 shares of the oil and natural gas company’s stock worth $1,715,000 after purchasing an additional 165 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 approximately $89,322,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were 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 of the company’s stock, valued at $18,532,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock worth $11,311,096 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Up 0.3 %

NASDAQ:FANG traded up $0.66 during trading hours on Friday, hitting $207.76. 1,183,884 shares of the stock traded hands, compared to its average volume of 1,724,379. The firm has a 50 day moving average price of $193.25 and a 200 day moving average price of $169.49. 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 fifty-two week low of $123.41 and a fifty-two week high of $211.96. The firm has a market cap of $37.05 billion, a price-to-earnings ratio of 11.98 and a beta of 1.93.

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 the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company posted $5.29 EPS. Diamondback Energy’s revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy, Inc. will post 18.83 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders 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. This represents a $12.32 annualized dividend and a dividend yield of 5.93%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is currently 20.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FANG shares. Piper Sandler boosted their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Bank Of America (Bofa) dropped their target price on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. Barclays started coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price target on the stock. KeyCorp upped their price target on Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday. Finally, Raymond James dropped their price target on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $202.53.

Diamondback Energy 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.