TD Private Client Wealth LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 6,730 shares of the oil and natural gas company's stock, valued at approximately $1,076,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Heritage Wealth Management Inc. lifted its holdings in 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 in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Diamondback Energy by 13.5% during 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 acquiring an additional 78,360 shares during the last quarter. Investor s Fiduciary Advisor Network LLC increased its stake in shares of Diamondback Energy by 2.1% during 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 acquiring an additional 74 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 2.3% during 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 acquiring an additional 94,177 shares during the last quarter. Finally, World Investment Advisors increased its stake in shares of Diamondback Energy by 8.7% during 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 acquiring an additional 2,004 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on FANG shares. UBS Group dropped their target price on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Bank of America increased their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Scotiabank dropped 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. Piper Sandler dropped their target price on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, Evercore ISI began coverage on Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price target for the company. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $193.13.
Get Our Latest Analysis on FANG
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 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company's stock.
Diamondback Energy Price Performance
Shares of FANG opened at $142.12 on Thursday. The firm has a market capitalization of $41.52 billion, a price-to-earnings ratio of 8.69 and a beta of 1.05. 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, Inc. has a one year low of $114.00 and a one year high of $214.50. The stock's fifty day moving average is $140.77 and its 200-day moving average is $149.76.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued 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 company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company's quarterly revenue was up 81.8% compared to the same quarter last year. During the same period last year, the company earned $4.50 earnings per share. Equities analysts anticipate 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. 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 2.81%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.
About Diamondback Energy
(
Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Diamondback Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Diamondback Energy wasn't on the list.
While Diamondback Energy currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
