Outlook Wealth Advisors LLC Acquires Shares of 2,331 Diamondback Energy, Inc. (NASDAQ:FANG)

Outlook Wealth Advisors LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,331 shares of the oil and natural gas company’s stock, valued at approximately $462,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FANG. Founders Capital Management raised its holdings in Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at $27,000. BluePath Capital Management LLC purchased a new stake in shares of Diamondback Energy during the third quarter valued at $28,000. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at $31,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Diamondback Energy in the 4th quarter worth about $34,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Mizuho upped their target price on shares of Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Bank of America upgraded shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $129.00 to $170.00 in a report on Monday, February 12th. Stifel Nicolaus boosted their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday. Susquehanna raised their price target on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

Insider Buying and Selling

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were 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 in the company, valued at approximately $89,322,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

NASDAQ FANG traded up $0.66 on Friday, reaching $207.76. 1,184,009 shares of the stock were exchanged, compared to its average volume of 1,327,313. The firm has a market capitalization of $37.05 billion, a PE ratio of 11.98 and a beta of 1.93. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96. The company’s 50-day simple moving average is $193.25 and its two-hundred day simple moving average is $169.49. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $5.29 EPS. Analysts expect that Diamondback Energy, Inc. will post 18.83 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a $3.08 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a dividend yield of 5.93%. Diamondback Energy’s dividend payout ratio is 20.76%.

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.