Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 22.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,121 shares of the oil and natural gas company's stock after acquiring an additional 4,770 shares during the quarter. Eagle Rock Investment Company LLC's holdings in Diamondback Energy were worth $4,176,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Generali Investments Management Co LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at approximately $199,000. Signal Advisors Wealth LLC boosted its holdings in shares of Diamondback Energy by 34.1% in the first quarter. Signal Advisors Wealth LLC now owns 22,574 shares of the oil and natural gas company's stock valued at $3,609,000 after acquiring an additional 5,735 shares during the period. Vest Financial LLC acquired a new stake in shares of Diamondback Energy during the first quarter worth $7,536,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Diamondback Energy by 95.9% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,655 shares of the oil and natural gas company's stock worth $584,000 after purchasing an additional 1,789 shares during the period. Finally, L. Roy Papp & Associates LLP lifted its holdings in shares of Diamondback Energy by 7.8% during the first quarter. L. Roy Papp & Associates LLP now owns 3,587 shares of the oil and natural gas company's stock worth $573,000 after purchasing an additional 260 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. Williams Trading set a $190.00 price target on Diamondback Energy in a report on Wednesday, March 5th. Evercore ISI started coverage on Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price for the company. Mizuho reduced their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Truist Financial raised their target price on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Two 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. According to MarketBeat.com, Diamondback Energy presently has an average rating of "Buy" and an average target price of $193.09.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction dated 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 completion of the sale, the president now owns 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Price Performance

Diamondback Energy stock traded up $3.44 during midday trading on Tuesday, reaching $145.57. 2,282,175 shares of the company were exchanged, compared to its average volume of 2,183,844. The company has a market capitalization of $42.53 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 1.24 and a beta of 1.06. The firm's 50-day simple moving average is $135.27 and its 200-day simple moving average is $153.04. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

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 EPS for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm's quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.50 EPS. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was 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.