Allspring Global Investments Holdings LLC Purchases 8,298 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Allspring Global Investments Holdings LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,761 shares of the oil and natural gas company’s stock after buying an additional 8,298 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Diamondback Energy were worth $9,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FANG. BKM Wealth Management LLC bought a new stake in Diamondback Energy in the 4th quarter worth approximately $27,000. BluePath Capital Management LLC purchased a new position in Diamondback Energy in the 3rd quarter worth approximately $28,000. FinTrust Capital Advisors LLC increased its stake in Diamondback Energy by 232.8% in the 4th quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 149 shares during the period. Carolinas Wealth Consulting LLC increased its stake in Diamondback Energy by 366.7% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 176 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Diamondback Energy in the 3rd quarter worth approximately $32,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $203.95 on Wednesday. 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 business has a 50-day simple moving average of $187.00 and a two-hundred day simple moving average of $166.74. The stock has a market cap of $36.37 billion, a price-to-earnings ratio of 11.76 and a beta of 1.93. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.29 earnings per share. On average, analysts expect that Diamondback Energy, Inc. will post 18.47 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a $3.08 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 6.04%. Diamondback Energy’s dividend payout ratio is presently 20.76%.

Insiders Place Their Bets

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares in the company, valued at $15,031,153.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares in the company, valued at $15,031,153.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following 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 a total of 57,675 shares of company stock worth $11,311,096 over the last quarter. 0.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Stifel Nicolaus lifted their price target on Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Mizuho lifted their price target on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley decreased their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday. Evercore ISI boosted their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Finally, Susquehanna boosted their target price on Diamondback Energy from $190.00 to $195.00 and gave the company a “positive” rating in a research note on Tuesday, February 13th. One equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.95.

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.