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

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

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted 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 buying an additional 928,429 shares in the last quarter. Boston Partners grew its stake in Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after buying an additional 571,820 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Diamondback Energy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after purchasing an additional 91,605 shares in the last quarter. Demars Financial Group LLC grew its position in shares of Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock worth $655,953,000 after purchasing an additional 208,200 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Diamondback Energy by 12.6% during the 4th quarter. Invesco Ltd. now owns 3,086,468 shares of the oil and natural gas company's stock worth $505,656,000 after acquiring an additional 345,353 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $5.84 during mid-day trading on Tuesday, hitting $143.76. 2,481,967 shares of the stock were exchanged, compared to its average volume of 2,281,553. The stock's fifty day simple moving average is $140.43 and its two-hundred day simple moving average is $149.86. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The stock has a market capitalization of $42.00 billion, a price-to-earnings ratio of 8.79 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly 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. The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm's revenue was up 81.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.50 EPS. On average, analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.78%. Diamondback Energy's payout ratio is currently 24.46%.

Analyst Ratings Changes

FANG has been the subject of several research reports. Evercore ISI assumed coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price objective for the company. Susquehanna reduced their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Bank of America lifted their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. 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. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $193.13.

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.