Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Woodline Partners LP

Woodline Partners LP lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 722.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 344,783 shares of the oil and natural gas company's stock after acquiring an additional 302,874 shares during the quarter. Woodline Partners LP owned 0.12% of Diamondback Energy worth $56,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FANG. Wealthcare Advisory Partners LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter worth $312,000. Merit Financial Group LLC boosted its holdings in Diamondback Energy by 18.0% during the fourth quarter. Merit Financial Group LLC now owns 2,315 shares of the oil and natural gas company's stock worth $379,000 after buying an additional 353 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Diamondback Energy by 22.7% during the fourth quarter. HB Wealth Management LLC now owns 4,036 shares of the oil and natural gas company's stock worth $661,000 after buying an additional 747 shares in the last quarter. Clarius Group LLC boosted its holdings in Diamondback Energy by 8.8% during the fourth quarter. Clarius Group LLC now owns 1,885 shares of the oil and natural gas company's stock worth $309,000 after buying an additional 152 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in Diamondback Energy during the fourth quarter worth $384,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Activity

In related news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Susquehanna lowered their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and increased their price target for the stock from $157.00 to $180.00 in a report on Monday, April 7th. Piper Sandler lowered their price target on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Barclays decreased their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Bank of America raised shares of Diamondback Energy from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $202.00 to $170.00 in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of "Buy" and a consensus price target of $194.09.

Diamondback Energy Price Performance

Shares of FANG stock opened at $139.35 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm's 50-day moving average is $141.10 and its two-hundred day moving average is $157.61. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a market capitalization of $40.71 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the firm earned $4.50 earnings per share. Diamondback Energy's quarterly revenue was up 81.8% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) 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.

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