Eagle Rock Investment Company LLC Grows Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Eagle Rock Investment Company LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 26,121 shares of the oil and natural gas company's stock after buying 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 quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Diamondback Energy by 26.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,438 shares of the oil and natural gas company's stock valued at $14,537,000 after purchasing an additional 18,985 shares during the period. Choreo LLC lifted its stake in shares of Diamondback Energy by 8.9% in the 4th quarter. Choreo LLC now owns 8,124 shares of the oil and natural gas company's stock valued at $1,310,000 after purchasing an additional 664 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Diamondback Energy by 7.4% in the 4th quarter. Financial Advocates Investment Management now owns 2,049 shares of the oil and natural gas company's stock valued at $336,000 after purchasing an additional 142 shares during the period. Measured Wealth Private Client Group LLC lifted its stake in shares of Diamondback Energy by 28.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 1,976 shares of the oil and natural gas company's stock valued at $324,000 after purchasing an additional 438 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Diamondback Energy in the 4th quarter valued at approximately $13,804,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Up 2.3%

Diamondback Energy stock opened at $140.56 on Friday. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.24 and a beta of 1.06. The stock has a fifty day simple moving average of $135.58 and a two-hundred day simple moving average of $153.79. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the previous year, the company posted $4.50 earnings per share. Diamondback Energy's revenue was up 81.8% compared to the same quarter last year. Equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed 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 dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is currently 24.46%.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy 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 completion of the sale, the president now owns 120,645 shares of the company's stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. 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. 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. KeyCorp lowered their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Raymond James reiterated a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Finally, Morgan Stanley lowered their price objective on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $193.09.

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.

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