Kestra Private Wealth Services LLC Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Kestra Private Wealth Services LLC increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 32.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,202 shares of the oil and natural gas company's stock after acquiring an additional 3,004 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Diamondback Energy were worth $1,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD grew its position in 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 worth $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 91,605 shares during the last quarter. Bank of New York Mellon Corp increased its position in Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after acquiring an additional 94,177 shares during the period. Demars Financial Group LLC raised its stake in Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock valued at $655,953,000 after acquiring an additional 208,200 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Diamondback Energy by 12.6% during the fourth quarter. Invesco Ltd. now owns 3,086,468 shares of the oil and natural gas company's stock worth $505,656,000 after purchasing an additional 345,353 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

NASDAQ FANG traded up $1.61 during trading hours on Thursday, reaching $145.30. The company's stock had a trading volume of 1,851,239 shares, compared to its average volume of 2,485,496. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The company's 50-day moving average is $141.51 and its two-hundred day moving average is $148.36. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $203.98. The stock has a market cap of $42.45 billion, a PE ratio of 8.89 and a beta of 1.05.

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

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio is presently 24.46%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Susquehanna lowered their price objective on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research report on Wednesday. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday, July 15th. Truist Financial boosted their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Evercore ISI started coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price objective for the company. Finally, Mizuho dropped their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of "Buy" and a consensus target price of $191.59.

Insider Activity

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the completion of the transaction, the president directly owned 120,645 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

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.