Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Allworth Financial LP

Allworth Financial LP raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 236.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,874 shares of the oil and natural gas company's stock after purchasing an additional 2,722 shares during the period. Allworth Financial LP's holdings in Diamondback Energy were worth $619,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. lifted its position in Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. Grove Bank & Trust lifted its holdings in shares of Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock valued at $32,000 after purchasing an additional 80 shares during the last quarter. WASHINGTON TRUST Co boosted its position in shares of Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock valued at $32,000 after purchasing an additional 109 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $33,000. Finally, Catalyst Capital Advisors LLC grew its stake in Diamondback Energy by 60.9% during the 1st quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company's stock worth $35,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Down 1.6%

Shares of FANG stock traded down $2.37 during mid-day trading on Monday, reaching $141.96. 1,549,916 shares of the company were exchanged, compared to its average volume of 2,521,656. The company has a market capitalization of $41.48 billion, a P/E ratio of 8.68 and a beta of 1.05. The business's 50 day simple moving average is $141.09 and its 200 day simple moving average is $149.46. 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 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 EPS for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period last year, the firm earned $4.50 earnings per share. The company's revenue for the quarter was up 81.8% compared to the same quarter last year. Research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insider Buying and Selling

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 value of $1,426,900.00. Following the transaction, the president directly owned 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FANG shares. Piper Sandler reduced their price target 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. Truist Financial upped their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a 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 note on Friday, May 23rd. Royal Bank Of Canada started coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target on the stock. Finally, Evercore ISI assumed coverage on Diamondback Energy in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price on the stock. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of "Buy" and an average price target of $193.35.

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.