Callan Family Office LLC Invests $841,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Callan Family Office LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,134 shares of the oil and natural gas company’s stock, valued at approximately $841,000.

Several other hedge funds and other institutional investors have also modified their holdings of FANG. Raymond James Financial Inc. purchased a new position in shares of Diamondback Energy during the fourth quarter worth $298,327,000. Assenagon Asset Management S.A. boosted its position in shares of Diamondback Energy by 1,153.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after buying an additional 1,042,505 shares during the period. Zimmer Partners LP purchased a new position in shares of Diamondback Energy during the third quarter worth $87,924,000. Bank of New York Mellon Corp boosted its position in shares of Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after buying an additional 502,916 shares during the period. Finally, Holocene Advisors LP boosted its position in shares of Diamondback Energy by 95.3% during the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after buying an additional 457,896 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 0.2 %

FANG opened at $140.11 on Friday. The business’s 50-day simple moving average is $163.97 and its 200-day simple moving average is $173.39. 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, Inc. has a one year low of $138.94 and a one year high of $214.50. The stock has a market capitalization of $40.55 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is 25.32%.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial lifted their target price on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a report on Friday, January 3rd. Piper Sandler decreased their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lifted their target price on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Four 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $216.09.

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.