Goldstein Advisors LLC Makes New $320,000 Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Goldstein Advisors LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,001 shares of the oil and natural gas company's stock, valued at approximately $320,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Diamondback Energy by 11.3% during the 4th 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 during the period. Boston Partners raised its stake in 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 purchasing an additional 571,820 shares in the last quarter. Geode Capital Management LLC lifted its position in Diamondback Energy by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after purchasing an additional 91,605 shares during the period. Bank of New York Mellon Corp lifted its position in Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock worth $682,036,000 after purchasing an additional 502,916 shares during the period. Finally, Demars Financial Group LLC grew its stake in Diamondback Energy by 5.3% during 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.

Diamondback Energy Trading Up 2.1%

Shares of FANG stock traded up $2.83 during trading hours on Thursday, hitting $140.87. 1,581,879 shares of the company's stock traded hands, compared to its average volume of 2,259,491. The stock has a market cap of $41.16 billion, a PE ratio of 8.62 and a beta of 1.06. The stock's 50 day simple moving average is $139.85 and its 200 day simple moving average is $151.12. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 11.22% and a net margin of 30.84%. Diamondback Energy's quarterly revenue was up 81.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.50 earnings per share. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.84%. Diamondback Energy's dividend payout ratio (DPR) is 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 shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president now owns 120,645 shares of the company's stock, valued at $17,214,835.05. This trade 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 available at the SEC website. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America boosted their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Raymond James Financial reissued a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and upped their target price for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Morgan Stanley reduced their target price on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, UBS Group lowered their price target on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $193.13.

Diamondback Energy Company 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.