Brookstone Capital Management Makes New Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Brookstone Capital Management acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,221 shares of the oil and natural gas company's stock, valued at approximately $2,114,000.

Other hedge funds also recently modified their holdings of the company. Demars Financial Group LLC bought a new position in Diamondback Energy during the 4th quarter worth $638,050,000. Alyeska Investment Group L.P. bought a new position in Diamondback Energy during the 4th quarter worth $185,193,000. Price T Rowe Associates Inc. MD raised its position in Diamondback Energy by 11.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in Diamondback Energy by 30.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after purchasing an additional 658,644 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock worth $96,827,000 after purchasing an additional 601,909 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company's stock.

Diamondback Energy Stock Up 0.6%

FANG traded up $0.91 during midday trading on Thursday, reaching $143.03. 1,792,283 shares of the company were exchanged, compared to its average volume of 2,286,577. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company's fifty day moving average price is $140.77 and its 200 day moving average price is $149.76. The company has a market cap of $41.79 billion, a price-to-earnings ratio of 8.75 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 (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share 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 firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the business earned $4.50 EPS. The company's revenue was up 81.8% compared to the same quarter last year. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

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 $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.80%. Diamondback Energy's payout ratio is 24.46%.

Analysts Set New Price Targets

FANG has been the subject of several research analyst reports. UBS Group lowered their price objective on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. KeyCorp lowered their price objective on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Mizuho lowered their price objective on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Susquehanna lowered their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada initiated coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective for the company. Two equities research 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, the stock has a consensus rating of "Buy" and an average target price of $193.13.

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.