Cypress Asset Management Inc. TX Invests $487,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Cypress Asset Management Inc. TX acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,865 shares of the oil and natural gas company's stock, valued at approximately $487,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ameriflex Group Inc. purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $202,000. United Advisor Group LLC boosted its holdings in shares of Diamondback Energy by 63.0% in the fourth quarter. United Advisor Group LLC now owns 4,347 shares of the oil and natural gas company's stock worth $712,000 after buying an additional 1,680 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Diamondback Energy by 59.3% in the fourth quarter. Mackenzie Financial Corp now owns 113,222 shares of the oil and natural gas company's stock worth $18,549,000 after buying an additional 42,140 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of Diamondback Energy by 64.8% in the fourth quarter. Forum Financial Management LP now owns 4,960 shares of the oil and natural gas company's stock worth $813,000 after buying an additional 1,951 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Diamondback Energy by 3.9% in the fourth quarter. Toronto Dominion Bank now owns 66,346 shares of the oil and natural gas company's stock worth $10,869,000 after buying an additional 2,468 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This represents a 53.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Hof Matthew Kaes Van't sold 10,000 shares of the 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 completion of the sale, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FANG shares. Wells Fargo & Company lowered their price target on shares of Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a report on Wednesday, March 5th. KeyCorp lowered their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Truist Financial lifted their price target 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. Finally, Mizuho lowered their price target 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. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of "Buy" and an average target price of $193.09.

Diamondback Energy Price Performance

FANG traded up $1.53 during trading hours on Thursday, hitting $137.81. The company's stock had a trading volume of 2,103,096 shares, compared to its average volume of 2,154,077. The business's 50-day moving average price is $138.66 and its 200-day moving average price is $155.81. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The stock has a market cap of $40.26 billion, a price-to-earnings ratio of 7.89, a P/E/G ratio of 1.24 and a beta of 1.06. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter in the previous year, the business posted $4.50 earnings per share. Diamondback Energy's quarterly revenue was up 81.8% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's dividend payout ratio is currently 24.46%.

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.