D.A. Davidson & CO. Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

D.A. Davidson & CO. grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 22,617 shares of the oil and natural gas company's stock after buying an additional 3,005 shares during the quarter. D.A. Davidson & CO.'s holdings in Diamondback Energy were worth $3,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FANG. Jones Financial Companies Lllp lifted its holdings in Diamondback Energy by 24.6% in the 4th quarter. Jones Financial Companies Lllp now owns 6,720 shares of the oil and natural gas company's stock worth $1,101,000 after buying an additional 1,327 shares during the period. Proficio Capital Partners LLC purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $210,000. Candriam S.C.A. lifted its holdings in Diamondback Energy by 27.4% in the 4th quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock worth $3,447,000 after buying an additional 4,529 shares during the period. Callan Family Office LLC purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $841,000. Finally, Ashton Thomas Private Wealth LLC lifted its stake in shares of Diamondback Energy by 30.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 18,158 shares of the oil and natural gas company's stock valued at $2,975,000 after purchasing an additional 4,291 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FANG shares. Truist Financial raised their target price on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Royal Bank Of Canada started coverage on Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price for the company. Raymond James Financial restated a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Piper Sandler lowered their target price on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Bank of America raised their target price on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Two equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $193.13.

Diamondback Energy Trading Down 0.9%

NASDAQ:FANG traded down $1.22 during trading hours on Friday, reaching $140.75. 1,199,623 shares of the stock were exchanged, compared to its average volume of 2,283,012. 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 has a 50-day moving average of $140.42 and a two-hundred day moving average of $150.00. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The company has a market capitalization of $41.12 billion, a price-to-earnings ratio of 8.61 and a beta of 1.05.

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 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 business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the company earned $4.50 earnings per share. The company's revenue was up 81.8% on a year-over-year basis. On average, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

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

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction on 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 transaction, the president owned 120,645 shares of the company's stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

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.