Moran Wealth Management LLC Grows Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Moran Wealth Management LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,230 shares of the oil and natural gas company's stock after acquiring an additional 3,188 shares during the quarter. Moran Wealth Management LLC's holdings in Diamondback Energy were worth $4,673,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FANG. Wintrust Investments LLC acquired a new position in Diamondback Energy in the 4th quarter valued at about $28,000. Fourth Dimension Wealth LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at about $33,000. Grove Bank & Trust grew its holdings 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 valued at $32,000 after purchasing an additional 80 shares during the last quarter. Ancora Advisors LLC boosted its position in Diamondback Energy by 182.9% in the fourth quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company's stock valued at $38,000 after buying an additional 150 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in Diamondback Energy during the 4th quarter worth $38,000. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Up 2.1%

Shares of FANG stock traded up $2.83 during trading hours on Thursday, reaching $140.87. 1,580,765 shares of the company's stock were exchanged, compared to its average volume of 2,259,491. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The stock has a market cap of $41.16 billion, a PE ratio of 8.62 and a beta of 1.06. The stock's fifty day moving average price is $139.85 and its two-hundred day moving average price is $151.12.

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

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FANG. Williams Trading set a $190.00 target price on Diamondback Energy in a report on Wednesday, March 5th. Scotiabank lowered their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Mizuho lowered their target price 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. 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of "Buy" and a consensus price target of $193.13.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the sale, the president now directly owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by insiders.

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.