Global Wealth Management Investment Advisory Inc. Buys 6,009 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Global Wealth Management Investment Advisory Inc. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 36.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,468 shares of the oil and natural gas company's stock after buying an additional 6,009 shares during the period. Global Wealth Management Investment Advisory Inc.'s holdings in Diamondback Energy were worth $3,592,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its position in shares of Diamondback Energy by 4.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock valued at $5,784,000 after buying an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Diamondback Energy by 6.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock valued at $9,409,000 after buying an additional 3,467 shares during the last quarter. Candriam S.C.A. lifted its holdings in Diamondback Energy by 27.4% during the 4th quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock worth $3,447,000 after purchasing an additional 4,529 shares in the last quarter. SevenBridge Financial Group LLC lifted its holdings in Diamondback Energy by 10.8% during the 4th 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 in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Diamondback Energy by 49.7% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded down $2.98 during trading on Monday, hitting $137.92. 1,717,277 shares of the stock traded hands, compared to its average volume of 2,280,749. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The stock has a market cap of $40.30 billion, a price-to-earnings ratio of 8.44 and a beta of 1.05. The firm's fifty day moving average is $140.42 and its 200-day moving average is $149.97. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company's revenue was up 81.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.50 EPS. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president directly owned 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on FANG shares. JPMorgan Chase & Co. dropped their price objective on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Barclays dropped their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Raymond James Financial reissued a "strong-buy" rating on shares of Diamondback Energy in a report on Thursday, May 22nd. Wells Fargo & Company increased their price objective on Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Finally, Evercore ISI started coverage on Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price objective on the stock. Two research 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 company. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of "Buy" and a consensus target price of $193.13.

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.