Fullcircle Wealth LLC Makes New $368,000 Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Fullcircle Wealth LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,300 shares of the oil and natural gas company's stock, valued at approximately $368,000.

Several other hedge funds have also bought and sold shares of FANG. Price T Rowe Associates Inc. MD lifted its position in shares of Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after acquiring an additional 928,429 shares in the last quarter. Boston Partners lifted its position in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after acquiring an additional 571,820 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Diamondback Energy by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after acquiring an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock worth $680,649,000 after buying an additional 94,177 shares in the last quarter. Finally, Demars Financial Group LLC lifted its position in shares of Diamondback Energy by 5.3% in the first quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock worth $655,953,000 after buying an additional 208,200 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were 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 directly owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 0.6%

Shares of FANG stock traded up $0.91 on Thursday, reaching $143.03. 1,793,287 shares of the stock were exchanged, compared to its average volume of 2,286,581. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The business's 50 day moving average price is $140.77 and its 200 day moving average price is $149.76. The company has a market capitalization of $41.79 billion, a price-to-earnings ratio of 8.75 and a beta of 1.05. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

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. The firm 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%. The company'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 earnings per share. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.80%. Diamondback Energy's dividend payout ratio is presently 24.46%.

Analysts Set New Price Targets

FANG has been the topic of a number of recent research reports. Bank of America upped their price objective on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Royal Bank Of Canada assumed coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target for the company. Mizuho cut their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Scotiabank lowered their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Finally, Evercore ISI initiated coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $193.13.

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.