9,972 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Acquired by Caliber Wealth Management LLC KS

Key Points

• Caliber Wealth Management LLC KS invested approximately $1.59 million in Diamondback Energy, acquiring 9,972 shares in the first quarter.
• Diamondback Energy recently reported an earnings per share (EPS) of $4.54 for the last quarter, exceeding analysts' expectations significantly.
• The company announced a quarterly dividend of $1.00 per share, resulting in an annualized yield of 2.75% and a dividend payout ratio of 24.46%.

Caliber Wealth Management LLC KS purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,972 shares of the oil and natural gas company's stock, valued at approximately $1,594,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BankPlus Trust Department purchased a new stake in Diamondback Energy in the first quarter valued at about $27,000. Pinnacle Bancorp Inc. raised its position in Diamondback Energy by 95.7% during 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 in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $33,000. WASHINGTON TRUST Co grew its holdings in Diamondback Energy by 119.8% in the first 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. Finally, Grove Bank & Trust grew its holdings in Diamondback Energy by 65.0% in the first 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 period. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of analyst reports. Susquehanna reduced their price objective on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Mizuho reduced their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Scotiabank restated an "outperform" rating on shares of Diamondback Energy in a research report on Friday, July 11th. Piper Sandler boosted their price objective on Diamondback Energy from $225.00 to $228.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Bank of America boosted their price objective on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $191.59.

Insider Buying and Selling 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 dated 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 directly owned 120,645 shares of the company's stock, valued at $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.48% of the company's stock.

Diamondback Energy Trading Down 0.4%

Shares of FANG stock traded down $0.64 during mid-day trading on Tuesday, hitting $149.89. 604,317 shares of the company's stock were exchanged, compared to its average volume of 2,455,482. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $203.98. The stock has a 50-day simple moving average of $141.87 and a two-hundred day simple moving average of $147.51. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The stock has a market cap of $43.79 billion, a price-to-earnings ratio of 9.17 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business's revenue was up 81.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.50 earnings per share. Equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal 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 given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is currently 24.46%.

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.