Diamondback Energy, Inc. $FANG Stock Holdings Boosted by Fiducient Advisors LLC

Key Points

• Fiducient Advisors LLC increased its Diamondback Energy stake by 4.5% in the fourth quarter, buying 10,202 additional shares and bringing its total to 238,133 shares worth about $35.8 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 versus estimates of $3.83 billion.
• The company raised its quarterly dividend to $1.10 per share from $1.05, while analysts remain broadly bullish with a consensus Buy rating and average price target of $223.26.

Fiducient Advisors LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,133 shares of the oil and natural gas company's stock after purchasing an additional 10,202 shares during the period. Diamondback Energy accounts for about 4.4% of Fiducient Advisors LLC's holdings, making the stock its 5th biggest position. Fiducient Advisors LLC owned 0.08% of Diamondback Energy worth $35,798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in FANG. Cresset Asset Management LLC increased its stake in Diamondback Energy by 37.5% in the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company's stock valued at $649,000 after purchasing an additional 1,288 shares during the last quarter. Jump Financial LLC purchased a new position in Diamondback Energy in the second quarter valued at approximately $2,301,000. Cerity Partners LLC increased its stake in Diamondback Energy by 13.5% in the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company's stock valued at $7,022,000 after purchasing an additional 6,069 shares during the last quarter. AXA S.A. increased its stake in Diamondback Energy by 8.5% in the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company's stock valued at $7,194,000 after purchasing an additional 4,103 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Diamondback Energy by 37.1% in the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company's stock valued at $21,239,000 after purchasing an additional 41,866 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

Shares of FANG opened at $194.14 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The firm has a market cap of $54.61 billion, a PE ratio of 225.75 and a beta of 0.46. The company's 50 day simple moving average is $195.24 and its 200-day simple moving average is $171.66. Diamondback Energy, Inc. has a 12-month low of $133.75 and a 12-month high of $214.51.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $4.54 earnings per share. As a group, equities analysts predict that Diamondback Energy, Inc. will post 19.49 EPS for the current 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 dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Diamondback Energy's previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy's payout ratio is 511.63%.

Insider Activity

In related news, CFO Jere W. Thompson III sold 750 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $182.47, for a total transaction of $136,852.50. Following the completion of the sale, the chief financial officer directly owned 19,975 shares of the company's stock, valued at $3,644,838.25. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total value of $1,000,500.00. Following the sale, the executive vice president directly owned 51,392 shares of the company's stock, valued at approximately $10,283,539.20. This represents a 8.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 174,321 shares of company stock valued at $32,090,475. 0.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FANG has been the topic of several recent analyst reports. Susquehanna increased their price target on shares of Diamondback Energy from $231.00 to $245.00 and gave the company a "positive" rating in a research note on Wednesday, May 6th. TD Cowen upgraded shares of Diamondback Energy to a "strong-buy" rating in a research note on Monday, February 9th. Wall Street Zen upgraded shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Morgan Stanley raised their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Finally, Roth Mkm restated a "neutral" rating and set a $205.00 target price on shares of Diamondback Energy in a research report on Tuesday, May 5th. Five analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Diamondback Energy has a consensus rating of "Buy" and an average price target of $223.26.

Diamondback Energy Company 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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