Second Line Capital LLC Buys 3,493 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Second Line Capital LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,161 shares of the oil and natural gas company's stock after purchasing an additional 3,493 shares during the period. Second Line Capital LLC's holdings in Diamondback Energy were worth $2,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC raised its stake in shares of Diamondback Energy by 8.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,172 shares of the oil and natural gas company's stock worth $356,000 after buying an additional 167 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Diamondback Energy by 34.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,866 shares of the oil and natural gas company's stock worth $306,000 after buying an additional 473 shares during the period. Armstrong Advisory Group Inc. lifted its holdings in shares of Diamondback Energy by 14.7% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,270 shares of the oil and natural gas company's stock valued at $208,000 after acquiring an additional 163 shares in the last quarter. Central Valley Advisors LLC lifted its holdings in shares of Diamondback Energy by 4.6% during the 4th quarter. Central Valley Advisors LLC now owns 10,195 shares of the oil and natural gas company's stock valued at $1,670,000 after acquiring an additional 449 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at about $312,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FANG. 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 report on Tuesday, May 13th. Morgan Stanley reissued an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Mizuho decreased their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. UBS Group decreased their target price on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Susquehanna decreased their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $194.09.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction that occurred on 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 sale, the president now directly owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company's stock.

Diamondback Energy Stock Down 0.7%

Shares of Diamondback Energy stock traded down $1.00 during trading hours on Tuesday, reaching $138.35. The company's stock had a trading volume of 1,098,714 shares, compared to its average volume of 2,139,735. 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 stock's fifty day simple moving average is $141.10 and its two-hundred day simple moving average is $157.61. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company has a market capitalization of $40.42 billion, a P/E ratio of 7.92, a P/E/G ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company's revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.50 earnings per share. On average, research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.89%. Diamondback Energy's payout ratio is currently 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.