Peterson Wealth Services Has $4.04 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Peterson Wealth Services lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 17.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,262 shares of the oil and natural gas company's stock after acquiring an additional 3,755 shares during the period. Diamondback Energy makes up approximately 1.3% of Peterson Wealth Services' holdings, making the stock its 23rd biggest holding. Peterson Wealth Services' holdings in Diamondback Energy were worth $4,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FANG. Proficio Capital Partners LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $210,000. Axxcess Wealth Management LLC bought a new stake in Diamondback Energy during the 4th quarter worth approximately $278,000. Teacher Retirement System of Texas increased its stake in Diamondback Energy by 807.4% during the 4th quarter. Teacher Retirement System of Texas now owns 11,224 shares of the oil and natural gas company's stock worth $1,839,000 after purchasing an additional 9,987 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Diamondback Energy during the 4th quarter worth approximately $78,000. Finally, Summit Global Investments increased its stake in Diamondback Energy by 325.7% during the 4th quarter. Summit Global Investments now owns 4,998 shares of the oil and natural gas company's stock worth $819,000 after purchasing an additional 3,824 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other Diamondback Energy 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 transaction of $1,426,900.00. Following the completion of the sale, the president owned 120,645 shares of the company's stock, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho lowered their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating and set a $228.00 target price (up from $225.00) on shares of Diamondback Energy in a research note on Thursday, July 17th. KeyCorp lowered their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company increased their target price on Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Finally, Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and increased their target price for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has an average rating of "Buy" and an average target price of $191.59.

Diamondback Energy Stock Up 0.0%

Shares of NASDAQ:FANG traded up $0.05 during midday trading on Thursday, hitting $143.74. The stock had a trading volume of 552,405 shares, compared to its average volume of 2,475,526. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $203.98. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The business's 50-day simple moving average is $141.51 and its 200-day simple moving average is $148.36. The company has a market cap of $42.00 billion, a P/E ratio of 8.79 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same period last year, the business earned $4.50 earnings per share. The firm's revenue was up 81.8% on a year-over-year basis. On average, sell-side analysts forecast 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. Investors of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.78%. Diamondback Energy's dividend payout ratio is presently 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.