Mayfair Advisory Group LLC Purchases 436 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Mayfair Advisory Group LLC boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 21.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,508 shares of the oil and natural gas company’s stock after purchasing an additional 436 shares during the period. Mayfair Advisory Group LLC’s holdings in Diamondback Energy were worth $401,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FANG. Demars Financial Group LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth about $638,050,000. Raymond James Financial Inc. bought a new position in shares of Diamondback Energy in the fourth quarter worth about $298,327,000. Alyeska Investment Group L.P. bought a new position in shares of Diamondback Energy in the fourth quarter worth about $185,193,000. Price T Rowe Associates Inc. MD raised its stake in shares of 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 last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after acquiring an additional 658,644 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president now directly owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FANG has been the subject of a number of recent research reports. Susquehanna dropped their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Evercore ISI initiated coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price target for the company. Truist Financial boosted their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Bank of America boosted their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, UBS Group dropped their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $193.13.

Diamondback Energy Price Performance

Shares of FANG opened at $152.93 on Wednesday. The firm has a market capitalization of $44.68 billion, a PE ratio of 9.35, a PEG ratio of 1.37 and a beta of 1.06. The company’s 50-day moving average is $137.99 and its 200-day moving average is $152.15. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company’s revenue was up 81.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.50 earnings per share. Equities analysts forecast 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 was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s payout ratio 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.