IFP Advisors Inc Acquires 4,271 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

IFP Advisors Inc raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 84.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,324 shares of the oil and natural gas company's stock after purchasing an additional 4,271 shares during the period. IFP Advisors Inc's holdings in Diamondback Energy were worth $1,491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BankPlus Trust Department purchased a new stake in Diamondback Energy in the first quarter worth approximately $27,000. Pinnacle Bancorp Inc. boosted its holdings in Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after purchasing an additional 88 shares during the last quarter. Grove Bank & Trust boosted its holdings in Diamondback Energy by 65.0% in the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares during the last quarter. WASHINGTON TRUST Co boosted its holdings in Diamondback Energy by 119.8% in the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 109 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in Diamondback Energy in the fourth quarter worth approximately $33,000. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler restated an "overweight" rating and set a $228.00 price objective (up from $225.00) on shares of Diamondback Energy in a research report on Thursday, July 17th. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, July 15th. Susquehanna dropped their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Barclays lowered their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy presently has an average rating of "Buy" and a consensus price target of $191.86.

Insider Activity

In related 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 owned 120,645 shares of the company's stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $141.82 on Wednesday. The firm's fifty day simple moving average is $141.68 and its 200-day simple moving average is $148.66. The stock has a market capitalization of $41.44 billion, a price-to-earnings ratio of 8.67 and a beta of 1.05. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $204.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business's revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.50 EPS. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's dividend payout ratio is presently 24.46%.

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.

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