Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,018 shares of the oil and natural gas company’s stock after buying an additional 1,504 shares during the period. Greenwood Capital Associates LLC’s holdings in Diamondback Energy were worth $4,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Apollon Wealth Management LLC boosted its holdings in shares of Diamondback Energy by 23.9% during the 4th quarter. Apollon Wealth Management LLC now owns 3,339 shares of the oil and natural gas company’s stock worth $547,000 after purchasing an additional 644 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Diamondback Energy by 37.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,105 shares of the oil and natural gas company’s stock worth $181,000 after buying an additional 303 shares during the last quarter. Savant Capital LLC grew its holdings in Diamondback Energy by 8.5% in the 4th quarter. Savant Capital LLC now owns 7,731 shares of the oil and natural gas company’s stock valued at $1,266,000 after buying an additional 606 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Diamondback Energy by 35.0% in the 4th quarter. Summit Trail Advisors LLC now owns 2,210 shares of the oil and natural gas company’s stock valued at $362,000 after buying an additional 573 shares in the last quarter. Finally, Cigna Investments Inc. New increased its stake in shares of Diamondback Energy by 5.2% in the 4th quarter. Cigna Investments Inc. New now owns 1,938 shares of the oil and natural gas company’s stock worth $318,000 after acquiring an additional 96 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FANG. Scotiabank reduced their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company cut their target price on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Raymond James restated a “strong-buy” rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Citigroup raised shares of Diamondback Energy from a “reduce” rating to a “buy” rating and increased their target price for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Finally, KeyCorp decreased their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy has an average rating of “Buy” and a consensus price target of $193.09.

Insider Transactions at Diamondback Energy

In related 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 stock was 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. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $148.92 on Thursday. The stock has a market cap of $43.51 billion, a P/E ratio of 8.52, a P/E/G ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The stock has a 50 day moving average of $135.78 and a two-hundred day moving average of $153.01. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.69%. Diamondback Energy’s payout ratio is 24.46%.

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.