Cetera Investment Advisers Buys 14,084 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Cetera Investment Advisers increased its holdings in Diamondback Energy by 29.4%, now owning 62,036 shares valued at approximately $9.92 million following the purchase of an additional 14,084 shares.
• Diamondback Energy reported a $4.54 EPS for the last quarter, exceeding analysts' expectations of $3.67, and recorded a revenue of $4.05 billion, significantly higher than the anticipated $3.58 billion.
• The company's recent quarterly dividend was set at $1.00, translating to an annual yield of 2.65%, with a payout ratio of 24.46%.

Cetera Investment Advisers increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 29.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,036 shares of the oil and natural gas company's stock after purchasing an additional 14,084 shares during the quarter. Cetera Investment Advisers' holdings in Diamondback Energy were worth $9,918,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FANG. Robeco Institutional Asset Management B.V. boosted its stake in shares of Diamondback Energy by 4.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock valued at $5,784,000 after purchasing an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Diamondback Energy by 6.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock valued at $9,409,000 after purchasing an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Diamondback Energy by 50.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock valued at $1,143,000 after purchasing an additional 2,397 shares in the last quarter. SevenBridge Financial Group LLC boosted its stake in shares of Diamondback Energy by 10.8% during the 4th quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company's stock valued at $3,303,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position in Diamondback Energy by 49.7% during the 4th quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company's stock valued at $1,608,000 after acquiring an additional 3,261 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction 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 represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FANG shares. Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Barclays lowered their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Truist Financial lifted their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research report 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 report on Wednesday, May 7th. Finally, Susquehanna decreased their target price on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $191.59.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded down $2.52 during midday trading on Friday, reaching $146.14. 2,830,897 shares of the company were exchanged, compared to its average volume of 1,723,121. The stock has a market cap of $42.70 billion, a PE ratio of 8.94 and a beta of 1.09. The business's fifty day moving average is $142.90 and its two-hundred day moving average is $147.15. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $202.87.

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

Diamondback Energy Announces Dividend

The firm also recently declared 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 of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. 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.