Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Peterson Wealth Services

Peterson Wealth Services grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 17.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 about 1.3% of Peterson Wealth Services' investment 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.

Several other large investors also recently modified their holdings of FANG. BankPlus Trust Department acquired a new stake in shares of Diamondback Energy in the first quarter valued at approximately $27,000. Pinnacle Bancorp Inc. increased its stake in shares of 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 valued at $29,000 after purchasing an additional 88 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $33,000. WASHINGTON TRUST Co increased its stake in shares of 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 valued at $32,000 after purchasing an additional 109 shares during the period. Finally, Grove Bank & Trust increased its stake in shares of Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock valued at $32,000 after acquiring an additional 80 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on FANG. Truist Financial lifted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Evercore ISI started coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price objective for the company. Susquehanna reduced their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank Of Canada started coverage on shares of Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of "Buy" and an average price target of $191.55.

Insiders Place Their Bets

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 shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Stock Down 1.1%

Shares of NASDAQ FANG traded down $1.53 during mid-day trading on Monday, reaching $139.84. The company had a trading volume of 1,296,205 shares, compared to its average volume of 2,311,072. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $205.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The stock has a market capitalization of $40.86 billion, a PE ratio of 8.55 and a beta of 1.05. The stock's 50 day moving average is $141.68 and its 200-day moving average is $148.66.

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, topping 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 company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter last year, the business posted $4.50 earnings per share. The company's revenue was up 81.8% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's payout ratio is presently 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.