Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by JBR Co Financial Management Inc

JBR Co Financial Management Inc boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 113.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,312 shares of the oil and natural gas company’s stock after buying an additional 2,289 shares during the period. JBR Co Financial Management Inc’s holdings in Diamondback Energy were worth $689,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after acquiring an additional 928,429 shares during the period. Boston Partners lifted its position in Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after buying an additional 571,820 shares during the last quarter. Geode Capital Management LLC boosted its stake in Diamondback Energy by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock worth $769,706,000 after buying an additional 91,605 shares during the period. Bank of New York Mellon Corp increased its position in shares of Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after acquiring an additional 502,916 shares during the last quarter. Finally, Demars Financial Group LLC raised its stake in shares of Diamondback Energy by 5.3% in the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock valued at $655,953,000 after acquiring an additional 208,200 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FANG shares. Raymond James Financial reissued a “strong-buy” rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Truist Financial increased their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler cut 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. Finally, Citigroup raised shares of Diamondback Energy from a “reduce” rating to a “buy” rating and raised their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $193.13.

Diamondback Energy Stock Up 1.3%

Diamondback Energy stock opened at $152.93 on Wednesday. The stock has a 50 day moving average of $137.99 and a two-hundred day moving average of $152.15. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The stock has a market capitalization of $44.68 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 1.37 and a beta of 1.06. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the previous year, the company posted $4.50 EPS. Diamondback Energy’s revenue was up 81.8% compared to the same quarter last year. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy’s payout ratio is 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.