Cyndeo Wealth Partners LLC Acquires New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

Cyndeo Wealth Partners LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,131 shares of the oil and natural gas company's stock, valued at approximately $341,000.

Other institutional investors have also recently bought and sold shares of the company. Demars Financial Group LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter worth about $638,050,000. Raymond James Financial Inc. acquired a new stake in shares of Diamondback Energy in the fourth quarter worth about $298,327,000. Alyeska Investment Group L.P. acquired a new stake in shares of Diamondback Energy in the fourth quarter worth about $185,193,000. Price T Rowe Associates Inc. MD lifted its position in shares of Diamondback Energy by 11.3% in the fourth 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 last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Diamondback Energy by 30.5% in the fourth 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 last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and boosted their price target for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Wells Fargo & Company boosted their price target on Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research report on Monday. 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. Truist Financial lifted their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Bank of America lifted their price objective on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two 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 stock. According to MarketBeat, Diamondback Energy has an average rating of "Buy" and a consensus price target of $193.13.

Insider Activity

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction that occurred on 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 sale, the president now directly owns 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Trading Up 1.3%

Shares of FANG opened at $152.93 on Wednesday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The firm has a market capitalization of $44.68 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 1.37 and a beta of 1.06. The stock's 50-day moving average price is $137.99 and its 200 day moving average price is $152.15. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the company posted $4.50 EPS. The company's revenue was up 81.8% compared to the same quarter last year. As a group, research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders 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 2.62%. Diamondback Energy's dividend payout ratio is currently 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.

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