1,247 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Generali Investments Management Co LLC

Generali Investments Management Co LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,247 shares of the oil and natural gas company’s stock, valued at approximately $199,000.

Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Diamondback Energy by 26.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,438 shares of the oil and natural gas company’s stock valued at $14,537,000 after acquiring an additional 18,985 shares in the last quarter. Choreo LLC increased its position in Diamondback Energy by 8.9% in the 4th quarter. Choreo LLC now owns 8,124 shares of the oil and natural gas company’s stock valued at $1,310,000 after acquiring an additional 664 shares in the last quarter. Financial Advocates Investment Management increased its position in Diamondback Energy by 7.4% in the 4th quarter. Financial Advocates Investment Management now owns 2,049 shares of the oil and natural gas company’s stock valued at $336,000 after acquiring an additional 142 shares in the last quarter. Measured Wealth Private Client Group LLC increased its position in Diamondback Energy by 28.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 1,976 shares of the oil and natural gas company’s stock valued at $324,000 after acquiring an additional 438 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at about $13,804,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $140.56 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market capitalization of $41.07 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company’s 50 day moving average price is $135.58 and its two-hundred day moving average price is $153.79. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

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

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.85%. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Insider Activity

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on FANG shares. Bank of America raised their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Mizuho reduced their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Citigroup raised shares of Diamondback Energy from a “reduce” rating to a “buy” rating and raised their target price for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Morgan Stanley reduced their target price on shares of Diamondback Energy from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Finally, Piper Sandler reduced their target price on shares of Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $193.09.

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.