Diamondback Energy, Inc. $FANG Shares Bought by Brookstone Capital Management

Key Points

• Brookstone Capital Management boosted its Diamondback Energy stake by 382.8% in the first quarter, ending with 60,263 shares valued at about $11.9 million.
• Diamondback reported better-than-expected first-quarter results, posting EPS of $4.23 versus the $3.74 consensus and revenue of $4.24 billion, up 4.7% year over year.
• The company also raised its quarterly dividend to $1.10 per share from $1.05, while analysts overall still rate the stock a Buy with a consensus price target of $221.37.

Brookstone Capital Management grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 382.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,263 shares of the oil and natural gas company's stock after buying an additional 47,780 shares during the quarter. Brookstone Capital Management's holdings in Diamondback Energy were worth $11,920,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Evolve Private Wealth LLC raised its stake in shares of Diamondback Energy by 202.4% during the 1st quarter. Evolve Private Wealth LLC now owns 7,039 shares of the oil and natural gas company's stock worth $1,392,000 after buying an additional 4,711 shares during the period. Breakthru Advisory Services LLC acquired a new stake in Diamondback Energy in the 1st quarter valued at $227,000. Quotient Wealth Partners LLC acquired a new stake in Diamondback Energy in the 1st quarter valued at $223,000. Nations Financial Group Inc. IA ADV increased its holdings in Diamondback Energy by 1.0% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 9,428 shares of the oil and natural gas company's stock worth $1,865,000 after acquiring an additional 89 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in Diamondback Energy by 35.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 493,958 shares of the oil and natural gas company's stock worth $74,257,000 after acquiring an additional 129,603 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the completion of the sale, the executive vice president owned 51,392 shares of the company's stock, valued at approximately $10,283,539.20. The trade was a 8.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 121,548 shares of company stock valued at $23,146,460. Corporate insiders own 0.64% of the company's stock.

Diamondback Energy Stock Up 2.3%

Shares of FANG opened at $187.80 on Tuesday. The stock has a 50 day moving average price of $195.06 and a 200 day moving average price of $177.02. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The stock has a market capitalization of $52.83 billion, a price-to-earnings ratio of 218.37 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts' consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the firm posted $4.54 EPS. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Diamondback Energy's previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy's dividend payout ratio (DPR) is currently 511.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FANG shares. Roth Mkm set a $212.00 price objective on shares of Diamondback Energy and gave the company a "buy" rating in a report on Monday. KeyCorp boosted their target price on shares of Diamondback Energy from $196.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, April 2nd. Sanford C. Bernstein boosted their target price on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Zacks Research downgraded shares of Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 28th. Finally, The Goldman Sachs Group raised their price target on shares of Diamondback Energy from $187.00 to $212.00 and gave the company a "buy" rating in a research note on Wednesday, March 11th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $221.37.

Diamondback Energy Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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