Alethea Capital Management LLC Purchases New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Alethea Capital Management LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,395 shares of the oil and natural gas company's stock, valued at approximately $392,000. Diamondback Energy accounts for approximately 0.3% of Alethea Capital Management LLC's investment portfolio, making the stock its 14th biggest position.

Several other large investors have also recently bought and sold shares of the company. Wintrust Investments LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. boosted its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after buying an additional 136 shares during the period. Key Financial Inc increased its position in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after acquiring an additional 188 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $38,000. Institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research reports. Susquehanna lowered their target price on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Scotiabank dropped their target price on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Mizuho upped their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Truist Financial increased their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $197.70.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $136.81 on Friday. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The stock has a market cap of $40.23 billion, a PE ratio of 7.83, a P/E/G ratio of 1.24 and a beta of 1.44. The firm has a 50-day moving average of $142.89 and a 200-day moving average of $160.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.92%. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Diamondback Energy Company 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.

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