5,021 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Inscription Capital LLC

Inscription Capital LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,021 shares of the oil and natural gas company's stock, valued at approximately $803,000.

A number of other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust boosted its stake in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Diamondback Energy by 6.7% in the 1st quarter. QRG Capital Management Inc. now owns 12,461 shares of the oil and natural gas company's stock worth $1,992,000 after purchasing an additional 786 shares during the period. Sagespring Wealth Partners LLC grew its holdings in Diamondback Energy by 6.7% during the first quarter. Sagespring Wealth Partners LLC now owns 7,511 shares of the oil and natural gas company's stock valued at $1,201,000 after purchasing an additional 473 shares during the period. Sowell Financial Services LLC purchased a new stake in Diamondback Energy in the first quarter worth about $1,382,000. Finally, Cyndeo Wealth Partners LLC purchased a new stake in Diamondback Energy in the first quarter worth about $341,000. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Up 1.3%

Shares of FANG opened at $152.93 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The stock has a market capitalization of $44.68 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The business's 50 day simple moving average is $137.99 and its 200-day simple moving average is $152.15.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter in the previous year, the business posted $4.50 earnings per share. Diamondback Energy's quarterly revenue was up 81.8% on a year-over-year basis. As a group, equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. 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 dividend payout ratio is 24.46%.

Insider Activity at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president now owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

FANG has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Evercore ISI began coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price target for the company. Susquehanna reduced their price objective 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. Finally, Bank of America lifted 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 equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $193.13.

About Diamondback Energy

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.

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