BI Asset Management Fondsmaeglerselskab A S Raises Position in Diamondback Energy, Inc. (NASDAQ:FANG)

BI Asset Management Fondsmaeglerselskab A S lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 55.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,083 shares of the oil and natural gas company’s stock after purchasing an additional 1,809 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Diamondback Energy were worth $1,007,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Founders Capital Management increased its position in Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after buying an additional 101 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Diamondback Energy during the 4th quarter worth approximately $27,000. Logan Capital Management Inc. purchased a new position in Diamondback Energy during the fourth quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth approximately $34,000. Finally, CVA Family Office LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth $35,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Down 0.8 %

FANG traded down $1.71 during trading hours on Wednesday, reaching $200.89. 200,846 shares of the company’s stock traded hands, compared to its average volume of 1,605,659. The firm has a 50-day moving average price of $196.72 and a 200 day moving average price of $184.15. The firm has a market capitalization of $35.83 billion, a PE ratio of 11.42, a PEG ratio of 1.10 and a beta of 1.90. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a 52-week low of $134.42 and a 52-week high of $211.96.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $4.10 earnings per share. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 19.05 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FANG shares. Piper Sandler lifted their target price on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Sanford C. Bernstein started coverage on Diamondback Energy in a report on Thursday, June 6th. They set an “outperform” rating and a $243.00 price target for the company. Barclays assumed coverage on Diamondback Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective on the stock. Bank of America reiterated a “neutral” rating and set a $201.00 target price on shares of Diamondback Energy in a research report on Friday, June 14th. Finally, Wells Fargo & Company reduced their price target on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.35.

Check Out Our Latest Analysis on Diamondback Energy

Insider Activity

In related news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

About Diamondback Energy

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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