Unison Advisors LLC Purchases New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Unison Advisors LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,700 shares of the oil and natural gas company's stock, valued at approximately $2,510,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Demars Financial Group LLC bought a new position in Diamondback Energy in the 4th quarter valued at $638,050,000. Alyeska Investment Group L.P. bought a new position in Diamondback Energy in the 4th quarter valued at $185,193,000. Price T Rowe Associates Inc. MD grew its position in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after acquiring an additional 928,429 shares during the last quarter. GAMMA Investing LLC grew its position in Diamondback Energy by 16,197.8% in the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock valued at $96,827,000 after acquiring an additional 601,909 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its position in Diamondback Energy by 33,693.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 457,908 shares of the oil and natural gas company's stock valued at $75,019,000 after acquiring an additional 456,553 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Buying and Selling

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the president directly owned 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Diamondback Energy in a research report on Friday, July 11th. Barclays cut their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Raymond James Financial upped their price objective on Diamondback Energy from $204.00 to $221.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. Mizuho dropped their price target on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Truist Financial increased their price target on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $191.59.

Diamondback Energy Stock Down 0.5%

Diamondback Energy stock traded down $0.69 during midday trading on Friday, reaching $144.61. The company's stock had a trading volume of 1,035,613 shares, compared to its average volume of 1,775,078. The stock's 50-day simple moving average is $141.65 and its 200-day simple moving average is $147.84. 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, Inc. has a 52-week low of $114.00 and a 52-week high of $203.98. The stock has a market capitalization of $42.25 billion, a P/E ratio of 8.84 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same period last year, the business posted $4.50 earnings per share. The firm's revenue was up 81.8% compared to the same quarter last year. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) 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.