Demars Financial Group LLC Acquires 208,200 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Demars Financial Group LLC boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,102,785 shares of the oil and natural gas company's stock after acquiring an additional 208,200 shares during the quarter. Diamondback Energy comprises 2.1% of Demars Financial Group LLC's investment portfolio, making the stock its 8th biggest holding. Demars Financial Group LLC owned 1.40% of Diamondback Energy worth $655,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wintrust Investments LLC purchased a new position in Diamondback Energy in the fourth quarter worth $28,000. Grove Bank & Trust boosted its stake in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $33,000. Key Financial Inc increased its stake in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after purchasing an additional 188 shares in the last quarter. Finally, Transce3nd LLC acquired a new position in Diamondback Energy during the fourth quarter worth $38,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FANG shares. Wells Fargo & Company raised their price target on Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research report on Monday. Susquehanna reduced their price target 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. Truist Financial raised their price objective 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. Evercore ISI initiated coverage on Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 target price on the stock. Finally, Piper Sandler cut their price target on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $193.13.

Diamondback Energy Stock Up 1.3%

NASDAQ:FANG traded up $1.90 on Tuesday, reaching $152.93. The stock had a trading volume of 3,358,784 shares, compared to its average volume of 2,228,341. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a 50-day moving average of $137.63 and a 200 day moving average of $152.15. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $44.68 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. 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 EPS. On average, research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business 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. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.62%. Diamondback Energy's dividend 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.