Brookstone Capital Management Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Brookstone Capital Management acquired a new position in shares of 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 institutional investor acquired 13,221 shares of the oil and natural gas company's stock, valued at approximately $2,114,000.

Other large investors have also recently bought and sold shares of the company. Demars Financial Group LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $638,050,000. Alyeska Investment Group L.P. acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $185,193,000. Price T Rowe Associates Inc. MD raised its stake 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 during the period. Diamond Hill Capital Management Inc. raised its stake 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 buying an additional 658,644 shares during the period. Finally, GAMMA Investing LLC raised its stake 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 buying an additional 601,909 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Down 2.1%

Shares of NASDAQ FANG traded down $2.98 during mid-day trading on Monday, hitting $137.92. The company had a trading volume of 1,717,277 shares, compared to its average volume of 2,280,748. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company has a market capitalization of $40.30 billion, a PE ratio of 8.44 and a beta of 1.05. The firm has a 50-day simple moving average of $140.42 and a two-hundred day simple moving average of $149.97. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (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 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 business posted $4.50 EPS. Diamondback Energy's revenue was up 81.8% on a year-over-year basis. On average, equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently announced 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 of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.90%. Diamondback Energy's dividend payout ratio (DPR) is currently 24.46%.

Wall Street Analyst Weigh In

Several analysts recently commented on FANG shares. Mizuho dropped their price objective on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley dropped their price objective on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Susquehanna dropped their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Barclays dropped their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price objective for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $193.13.

Insider Transactions at Diamondback Energy

In other Diamondback Energy 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 $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by company insiders.

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.