Cambridge Investment Research Advisors Inc. Raises Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Cambridge Investment Research Advisors Inc. lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 20.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,551 shares of the oil and natural gas company's stock after buying an additional 5,371 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Diamondback Energy were worth $5,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $28,000. Fourth Dimension Wealth LLC acquired a new stake in Diamondback Energy in the 4th quarter worth approximately $33,000. Grove Bank & Trust boosted its stake in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares in the last quarter. Ancora Advisors LLC boosted its stake in Diamondback Energy by 182.9% in the 4th quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company's stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in Diamondback Energy in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on FANG. Bank of America lifted their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Royal Bank Of Canada began coverage on shares of Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price for the company. Truist Financial lifted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. UBS Group lowered their target price on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Two research 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $193.13.

Diamondback Energy Stock Performance

FANG opened at $139.77 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The firm has a fifty day moving average price of $139.95 and a 200 day moving average price of $150.78. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The stock has a market cap of $40.84 billion, a P/E ratio of 8.55 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted 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 firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same period in the previous year, the business posted $4.50 EPS. The business's revenue was up 81.8% compared to the same quarter last year. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business 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. This represents a $4.00 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is presently 24.46%.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the completion of the sale, the president now owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by insiders.

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.

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