Axxcess Wealth Management LLC Takes $278,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Axxcess Wealth Management LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, Holdings Channel.com reports. The firm purchased 1,697 shares of the oil and natural gas company’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Prospera Financial Services Inc boosted its stake in Diamondback Energy by 56.9% during the 3rd quarter. Prospera Financial Services Inc now owns 4,553 shares of the oil and natural gas company’s stock valued at $786,000 after purchasing an additional 1,651 shares during the period. Banque Cantonale Vaudoise acquired a new position in Diamondback Energy during the 3rd quarter valued at about $105,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Diamondback Energy during the 3rd quarter valued at about $585,000. PNC Financial Services Group Inc. boosted its stake in Diamondback Energy by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 46,474 shares of the oil and natural gas company’s stock valued at $8,012,000 after purchasing an additional 821 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in Diamondback Energy by 22.4% during the 3rd quarter. Avior Wealth Management LLC now owns 1,914 shares of the oil and natural gas company’s stock valued at $330,000 after purchasing an additional 350 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on FANG. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research note on Friday, January 3rd. Mizuho upped their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Morgan Stanley upped their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $209.92.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 0.0 %

Diamondback Energy stock opened at $158.50 on Friday. The company has a 50 day moving average price of $160.47 and a 200 day moving average price of $170.39. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $45.88 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

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.