Demars Financial Group LLC Has $655.95 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Demars Financial Group LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,102,785 shares of the oil and natural gas company’s stock after acquiring an additional 208,200 shares during the period. Diamondback Energy makes up approximately 2.1% of Demars Financial Group LLC’s portfolio, making the stock its 8th largest position. Demars Financial Group LLC owned approximately 1.40% of Diamondback Energy worth $655,953,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Diamondback Energy during the 4th quarter worth $298,327,000. Alyeska Investment Group L.P. purchased a new position in shares of Diamondback Energy during the 4th quarter worth $185,193,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Diamondback Energy by 11.3% during the 4th 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. Diamond Hill Capital Management Inc. boosted its stake in shares of Diamondback Energy by 30.5% during the 4th 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. Finally, GAMMA Investing LLC boosted its stake in shares of Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company’s stock worth $96,827,000 after acquiring an additional 601,909 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction dated 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. The trade was a 7.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Diamondback Energy Stock Down 2.5%

Shares of FANG stock opened at $151.03 on Tuesday. The stock has a market cap of $44.13 billion, a P/E ratio of 8.65, a PEG ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. 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 company’s fifty day simple moving average is $137.63 and its two-hundred day simple moving average is $152.15.

Diamondback Energy (NASDAQ:FANG) last posted its 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. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the firm posted $4.50 EPS. The business’s quarterly revenue was up 81.8% on a year-over-year basis. Analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced 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 2.65%. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America lifted 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. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Morgan Stanley dropped their price target 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. Piper Sandler lowered 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, Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday. Two investment 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 company’s stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Buy” and an average target price of $193.13.

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.