9,670 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,670 shares of the oil and natural gas company’s stock, valued at approximately $1,584,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. Wealth Enhancement Advisory Services LLC boosted its stake in Diamondback Energy by 4.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,608 shares of the oil and natural gas company’s stock worth $2,863,000 after purchasing an additional 637 shares during the period. Czech National Bank grew its position in shares of Diamondback Energy by 6.2% in the fourth quarter. Czech National Bank now owns 40,518 shares of the oil and natural gas company’s stock valued at $6,638,000 after purchasing an additional 2,352 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Diamondback Energy by 15.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 746 shares of the oil and natural gas company’s stock worth $122,000 after buying an additional 101 shares in the last quarter. Mayfair Advisory Group LLC raised its holdings in Diamondback Energy by 10.9% in the 4th quarter. Mayfair Advisory Group LLC now owns 2,072 shares of the oil and natural gas company’s stock valued at $339,000 after acquiring an additional 204 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Diamondback Energy by 8.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,172 shares of the oil and natural gas company’s stock worth $356,000 after acquiring an additional 167 shares during the period. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FANG. Wells Fargo & Company cut their price objective on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Piper Sandler cut their target price on Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a research report on Tuesday. Susquehanna lowered their target price on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada assumed coverage on Diamondback Energy in a report on Friday, May 2nd. They set an “outperform” rating and a $180.00 price target on the stock. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $194.09.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru purchased 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now owns 120,645 shares of the company’s stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $144.82 on Thursday. The company has a market capitalization of $42.31 billion, a PE ratio of 8.29, a PEG ratio of 1.24 and a beta of 1.06. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $141.29 and its 200-day moving average price is $158.61. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the previous year, the firm earned $4.50 earnings per share. The business’s revenue was up 81.8% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.76%. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Diamondback Energy Company 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.