Capital Market Strategies LLC Has $513,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Capital Market Strategies LLC decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,590 shares of the oil and natural gas company’s stock after selling 100 shares during the period. Capital Market Strategies LLC’s holdings in Diamondback Energy were worth $513,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in Diamondback Energy in the 4th quarter valued at approximately $27,000. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter worth $31,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth $34,000. CVA Family Office LLC purchased a new position in Diamondback Energy in the fourth quarter valued at about $35,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in Diamondback Energy by 559.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after purchasing an additional 218 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on FANG shares. Morgan Stanley lowered their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Royal Bank of Canada increased their price target on shares of Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Evercore ISI lifted their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Piper Sandler increased their target price on shares of Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, StockNews.com raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $209.35.

Insiders Place Their Bets

In other news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.94, for a total value of $969,700.00. Following the completion of the transaction, the executive vice president now directly owns 44,445 shares of the company’s stock, valued at approximately $8,619,663.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the sale, the executive vice president now owns 44,445 shares in the company, valued at approximately $8,619,663.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction 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 41,900 shares of company stock worth $8,332,450 over the last quarter. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG traded up $1.31 on Wednesday, reaching $188.87. 1,124,380 shares of the stock traded hands, compared to its average volume of 1,246,209. The stock’s 50-day moving average price is $198.10 and its 200-day moving average price is $179.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The firm has a market cap of $33.68 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.02 and a beta of 1.90. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.10 earnings per share. Equities analysts forecast that Diamondback Energy, Inc. will post 19.05 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.91%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

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.