MQS Management LLC Invests $491,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

MQS Management LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,068 shares of the oil and natural gas company's stock, valued at approximately $491,000.

Several other hedge funds have also made changes to their positions in FANG. Proficio Capital Partners LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $210,000. Independent Advisor Alliance increased its stake in Diamondback Energy by 14.7% in the 4th quarter. Independent Advisor Alliance now owns 2,817 shares of the oil and natural gas company's stock valued at $461,000 after buying an additional 362 shares during the period. Sequoia Financial Advisors LLC increased its stake in Diamondback Energy by 17.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,374 shares of the oil and natural gas company's stock valued at $1,208,000 after buying an additional 1,108 shares during the period. Diversified Enterprises LLC acquired a new position in Diamondback Energy in the 4th quarter valued at approximately $268,000. Finally, Greenwich Wealth Management LLC acquired a new position in Diamondback Energy in the 4th quarter valued at approximately $218,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analyst Ratings Changes

FANG has been the topic of several analyst reports. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday. UBS Group dropped their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Mizuho dropped their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Susquehanna dropped their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Bank of America raised their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $193.35.

Insider Activity at Diamondback Energy

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 shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president directly owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $4.08 during midday trading on Tuesday, hitting $137.88. The company had a trading volume of 2,911,020 shares, compared to its average volume of 2,299,919. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The stock has a market cap of $40.28 billion, a price-to-earnings ratio of 8.43 and a beta of 1.05. The firm has a fifty day simple moving average of $141.26 and a two-hundred day simple moving average of $149.35. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping 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 business's quarterly revenue was up 81.8% on a year-over-year basis. During the same period last year, the business posted $4.50 EPS. Equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's payout ratio is 24.46%.

Diamondback Energy 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.