Synergy Asset Management LLC Invests $67,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Synergy Asset Management LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, HoldingsChannel reports. The fund acquired 390 shares of the oil and natural gas company’s stock, valued at approximately $67,000.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. raised its position in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Values First Advisors Inc. bought a new stake in Diamondback Energy in the third quarter worth $42,000. CVA Family Office LLC grew its stake in shares of Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Diamondback Energy in the third quarter worth about $52,000. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FANG shares. KeyCorp dropped their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Susquehanna cut their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. UBS Group lowered their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a report on Monday, December 9th. Truist Financial raised their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Citigroup assumed coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $170.41 on Friday. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $49.76 billion, a P/E ratio of 9.75, a PEG ratio of 1.44 and a beta of 1.88. The stock’s 50 day moving average is $169.65 and its 200 day moving average is $181.40.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.49 earnings per share. On average, equities research analysts predict that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.11%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.