TD Private Client Wealth LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $210,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Diamondback Energy by 1.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,597 shares of the oil and natural gas company's stock worth $5,996,000 after purchasing an additional 405 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Diamondback Energy by 32.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 45,144 shares of the oil and natural gas company's stock worth $7,396,000 after purchasing an additional 11,115 shares during the last quarter. Independent Advisor Alliance lifted its holdings in shares of Diamondback Energy by 14.7% during the fourth quarter. Independent Advisor Alliance now owns 2,817 shares of the oil and natural gas company's stock valued at $461,000 after purchasing an additional 362 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its position in shares of Diamondback Energy by 4.8% during the fourth quarter. Citizens Financial Group Inc. RI now owns 2,928 shares of the oil and natural gas company's stock valued at $480,000 after buying an additional 133 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

Shares of FANG traded up $0.91 during mid-day trading on Thursday, reaching $143.03. The stock had a trading volume of 1,793,288 shares, compared to its average volume of 2,286,583. The firm has a market cap of $41.79 billion, a price-to-earnings ratio of 8.75 and a beta of 1.05. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The business has a fifty day moving average of $140.77 and a 200 day moving average of $149.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86.

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 EPS for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business's quarterly revenue was up 81.8% on a year-over-year basis. During the same period last year, the firm earned $4.50 earnings per share. Equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Analysts Set New Price Targets

FANG has been the subject of a number of recent analyst reports. Royal Bank Of Canada assumed coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price for the company. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and boosted their price objective for the company from $157.00 to $180.00 in a report on Monday, April 7th. Scotiabank cut their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Morgan Stanley decreased their target price on shares of Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Finally, Bank of America raised their price target on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $193.13.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president directly owned 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company's stock.

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.