EULAV Asset Management Acquires 10,000 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

EULAV Asset Management lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 17.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,000 shares of the oil and natural gas company's stock after purchasing an additional 10,000 shares during the quarter. EULAV Asset Management's holdings in Diamondback Energy were worth $10,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FANG. Investor s Fiduciary Advisor Network LLC raised its holdings in shares of Diamondback Energy by 2.1% during the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after acquiring an additional 74 shares during the period. Grove Bank & Trust raised its holdings in shares of Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares during the period. Rehmann Capital Advisory Group raised its holdings in shares of Diamondback Energy by 6.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after acquiring an additional 82 shares during the period. Catalyst Capital Advisors LLC raised its holdings in shares of Diamondback Energy by 60.9% during the first quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company's stock worth $35,000 after acquiring an additional 84 shares during the period. Finally, Center for Financial Planning Inc. raised its holdings in shares of Diamondback Energy by 6.4% during the first quarter. Center for Financial Planning Inc. now owns 1,449 shares of the oil and natural gas company's stock worth $232,000 after acquiring an additional 87 shares during the period. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FANG shares. Bank of America raised their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Susquehanna dropped their price objective 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. Morgan Stanley lowered their price target on shares of Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. UBS Group lowered their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, 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 note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $193.13.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $2.98 during trading on Monday, hitting $137.92. 1,717,277 shares of the stock were exchanged, compared to its average volume of 2,280,749. The stock has a market capitalization of $40.30 billion, a price-to-earnings ratio of 8.44 and a beta of 1.05. The company has a fifty day moving average price of $140.42 and a 200-day moving average price of $149.97. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. 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 (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 the consensus estimate of $3.67 by $0.87. The business had revenue of $4.05 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.50 EPS. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is 24.46%.

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 sale, the president 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company's stock.

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.