Cornerstone Investment Partners LLC Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Cornerstone Investment Partners LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 45.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,961 shares of the oil and natural gas company's stock after acquiring an additional 122,105 shares during the quarter. Diamondback Energy makes up approximately 3.0% of Cornerstone Investment Partners LLC's portfolio, making the stock its 18th largest position. Cornerstone Investment Partners LLC owned about 0.13% of Diamondback Energy worth $62,667,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FANG. Investor s Fiduciary Advisor Network LLC boosted its holdings in shares of Diamondback Energy by 2.1% in the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after buying an additional 74 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of 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 buying an additional 80 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Diamondback Energy by 6.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after buying an additional 82 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in shares of Diamondback Energy by 60.9% in the 1st quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company's stock worth $35,000 after buying an additional 84 shares during the last quarter. Finally, Center for Financial Planning Inc. boosted its holdings in shares of Diamondback Energy by 6.4% in the 1st quarter. Center for Financial Planning Inc. now owns 1,449 shares of the oil and natural gas company's stock worth $232,000 after buying an additional 87 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

FANG has been the topic of several recent research reports. Truist Financial upped their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Mizuho dropped their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. UBS Group dropped their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Finally, Susquehanna dropped their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $193.35.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy 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. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

Diamondback Energy stock traded up $2.28 during mid-day trading on Friday, hitting $145.31. 716,456 shares of the company traded hands, compared to its average volume of 2,285,757. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The stock has a market cap of $42.46 billion, a price-to-earnings ratio of 8.89 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. The stock has a fifty day moving average price of $140.94 and a 200-day moving average price of $149.67.

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 (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 analyst estimates of $3.58 billion. During the same period in the previous year, the business posted $4.50 earnings per share. Diamondback Energy's revenue for the quarter was up 81.8% on a year-over-year basis. On average, equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.75%. Diamondback Energy's payout ratio is presently 24.46%.

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.