Asio Capital LLC Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Asio Capital LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,353 shares of the oil and natural gas company's stock after purchasing an additional 1,707 shares during the quarter. Diamondback Energy accounts for about 1.1% of Asio Capital LLC's investment portfolio, making the stock its 28th largest position. Asio Capital LLC's holdings in Diamondback Energy were worth $5,492,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Barden Capital Management Inc. increased its stake in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock worth $718,000 after acquiring an additional 64 shares during the last quarter. Private Trust Co. NA increased its position in Diamondback Energy by 4.8% in the fourth quarter. Private Trust Co. NA now owns 1,516 shares of the oil and natural gas company's stock worth $248,000 after purchasing an additional 69 shares during the last quarter. Gladstone Institutional Advisory LLC increased its position in Diamondback Energy by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,923 shares of the oil and natural gas company's stock worth $643,000 after purchasing an additional 74 shares during the last quarter. JBR Co Financial Management Inc raised its stake in Diamondback Energy by 4.1% during the fourth quarter. JBR Co Financial Management Inc now owns 2,023 shares of the oil and natural gas company's stock valued at $331,000 after purchasing an additional 80 shares in the last quarter. Finally, Abbot Financial Management Inc. lifted its position in Diamondback Energy by 2.0% during the fourth quarter. Abbot Financial Management Inc. now owns 4,051 shares of the oil and natural gas company's stock valued at $664,000 after purchasing an additional 81 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $4.15 on Wednesday, reaching $148.78. 2,956,660 shares of the stock were exchanged, compared to its average volume of 2,558,301. The business has a 50 day moving average price of $137.99 and a two-hundred day moving average price of $152.15. The firm has a market capitalization of $43.47 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.37 and a beta of 1.06. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31.

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 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 analyst estimates of $3.58 billion. During the same period in the prior year, the company earned $4.50 earnings per share. The firm's revenue was up 81.8% on a year-over-year basis. Analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.69%. Diamondback Energy's payout ratio is 24.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Evercore ISI initiated coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price on the stock. Raymond James Financial reiterated a "strong-buy" rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Morgan Stanley lowered their price objective on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Williams Trading set a $190.00 target price on Diamondback Energy in a research report on Wednesday, March 5th. Finally, Scotiabank lowered their price target on 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. 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. According to MarketBeat.com, Diamondback Energy has a consensus rating of "Buy" and a consensus price target of $193.13.

Insider Activity

In other Diamondback Energy 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 value of $1,426,900.00. Following the transaction, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% 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.