TD Private Client Wealth LLC Makes New Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

TD Private Client Wealth LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,730 shares of the oil and natural gas company's stock, valued at approximately $1,076,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. boosted its stake in shares of Diamondback Energy by 2.6% in the 1st quarter. Heritage Wealth Management Inc. now owns 4,855 shares of the oil and natural gas company's stock valued at $776,000 after purchasing an additional 125 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Diamondback Energy by 13.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 658,058 shares of the oil and natural gas company's stock valued at $105,210,000 after purchasing an additional 78,360 shares during the last quarter. Investor s Fiduciary Advisor Network LLC boosted its stake in shares of Diamondback Energy by 2.1% in the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock valued at $569,000 after purchasing an additional 74 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after purchasing an additional 94,177 shares during the last quarter. Finally, World Investment Advisors boosted its stake in shares of Diamondback Energy by 8.7% in the 1st quarter. World Investment Advisors now owns 24,991 shares of the oil and natural gas company's stock valued at $3,996,000 after purchasing an additional 2,004 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America upped their price objective 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. Evercore ISI assumed coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 target price on the stock. Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and boosted their target price for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Barclays dropped their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of "Buy" and an average target price of $193.35.

Diamondback Energy Stock Up 1.0%

Shares of NASDAQ FANG traded up $1.36 during trading on Friday, hitting $144.39. The stock had a trading volume of 530,996 shares, compared to its average volume of 2,284,960. The company has a market capitalization of $42.19 billion, a PE ratio of 8.82 and a beta of 1.05. The firm has a fifty day moving average of $140.94 and a two-hundred day moving average of $149.67. 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 12 month low of $114.00 and a 12 month 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 for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion during 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 firm's revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.50 earnings per share. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.77%. Diamondback Energy's payout ratio is currently 24.46%.

Insiders Place Their Bets

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the 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 owned 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company's stock.

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.