Peterson Wealth Services Buys 3,755 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Peterson Wealth Services raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 17.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 comprises approximately 1.3% of Peterson Wealth Services' portfolio, 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 quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FANG. BankPlus Trust Department purchased a new stake in Diamondback Energy in the first quarter worth $27,000. Pinnacle Bancorp Inc. raised its holdings in Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in Diamondback Energy in the fourth quarter worth $33,000. WASHINGTON TRUST Co raised its holdings in Diamondback Energy by 119.8% in the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 109 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in Diamondback Energy by 65.0% in the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FANG has been the subject of a number of research reports. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price target for the company from $157.00 to $180.00 in a report on Monday, April 7th. Truist Financial raised their price target on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a report on Thursday, April 17th. KeyCorp reduced their price target on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, UBS Group reduced their price target on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $191.59.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction dated 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 sale, the president directly owned 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ:FANG traded up $1.81 on Wednesday, hitting $143.63. The stock had a trading volume of 844,569 shares, compared to its average volume of 2,309,231. The stock has a market cap of $41.96 billion, a price-to-earnings ratio of 8.78 and a beta of 1.05. 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 $141.68 and its two-hundred day simple moving average is $148.66. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $204.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted 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. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same period in the previous year, the firm earned $4.50 EPS. The business's quarterly revenue was up 81.8% on a year-over-year basis. As a group, 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 paid a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.78%. Diamondback Energy's payout ratio is 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.