RIA Advisory Group LLC Invests $657,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

RIA Advisory Group LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,237 shares of the oil and natural gas company's stock, valued at approximately $657,000.

Other hedge funds also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new stake in Diamondback Energy in the fourth quarter worth $27,000. BluePath Capital Management LLC bought a new stake in shares of Diamondback Energy during the third quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Diamondback Energy during the third quarter worth $32,000. FinTrust Capital Advisors LLC increased its position in shares of Diamondback Energy by 232.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company's stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth $34,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FANG. Piper Sandler increased their price objective on shares of Diamondback Energy from $227.00 to $247.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America raised shares of Diamondback Energy from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. Scotiabank increased their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 11th. BMO Capital Markets raised their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a "market perform" rating in a research report on Tuesday, February 13th. Finally, Evercore ISI raised their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $196.95.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded up $1.14 during mid-day trading on Friday, reaching $200.74. 1,800,784 shares of the company were exchanged, compared to its average volume of 1,760,359. The company's 50-day simple moving average is $189.90 and its 200-day simple moving average is $167.56. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $35.80 billion, a P/E ratio of 11.58 and a beta of 1.93. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.61 by $0.13. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. Diamondback Energy's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.29 EPS. As a group, research analysts predict that Diamondback Energy, Inc. will post 18.53 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date was Monday, March 4th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.84. Diamondback Energy's dividend payout ratio (DPR) is currently 20.76%.

Insiders Place Their Bets

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now 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 sold 57,675 shares of company stock worth $11,311,096 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.

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.