Dynasty Wealth Management LLC Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Dynasty Wealth Management LLC raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 40.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,448 shares of the oil and natural gas company's stock after purchasing an additional 3,578 shares during the period. Dynasty Wealth Management LLC's holdings in Diamondback Energy were worth $1,990,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its position in shares of Diamondback Energy by 4.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock worth $5,784,000 after purchasing an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Diamondback Energy by 6.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock worth $9,409,000 after purchasing an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Diamondback Energy by 50.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock worth $1,143,000 after purchasing an additional 2,397 shares during the period. SevenBridge Financial Group LLC boosted its position in shares of Diamondback Energy by 10.8% in the fourth quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company's stock worth $3,303,000 after purchasing an additional 1,990 shares during the period. Finally, Headlands Technologies LLC boosted its position in shares of Diamondback Energy by 49.7% in the fourth quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company's stock worth $1,608,000 after purchasing an additional 3,261 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction dated 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 transaction, the president directly owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company's stock.

Diamondback Energy Trading Up 0.3%

Shares of Diamondback Energy stock traded up $0.44 on Friday, reaching $141.37. The company had a trading volume of 2,388,427 shares, compared to its average volume of 2,305,630. The firm has a market cap of $41.30 billion, a price-to-earnings ratio of 8.65 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The firm's 50-day moving average price is $141.61 and its two-hundred day moving average price is $149.04. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $212.28.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced 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 return on equity of 11.22% and a net margin of 30.84%. The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter in the previous year, the business earned $4.50 EPS. The company'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 fiscal year.

Diamondback Energy Announces Dividend

The company 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 dividend yield of 2.83%. Diamondback Energy's dividend payout ratio is presently 24.46%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Bank of America increased their target price on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Truist Financial increased their target price on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company increased their target price on Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Two equities 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $191.55.

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.