Legacy CG LLC Purchases 6,606 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Legacy CG LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 22.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,905 shares of the oil and natural gas company's stock after acquiring an additional 6,606 shares during the period. Diamondback Energy comprises approximately 1.9% of Legacy CG LLC's holdings, making the stock its 22nd largest holding. Legacy CG LLC's holdings in Diamondback Energy were worth $5,740,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FANG. Wintrust Investments LLC bought a new stake in Diamondback Energy during the 4th quarter worth about $28,000. Pinnacle Bancorp Inc. lifted its position in shares of Diamondback Energy by 95.7% during 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 in the last quarter. Grove Bank & Trust grew its stake in shares of Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock valued at $32,000 after purchasing an additional 80 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC raised its position in Diamondback Energy by 2,130.0% in the 1st quarter. Golden State Wealth Management LLC now owns 223 shares of the oil and natural gas company's stock worth $36,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction dated 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 sale, the president now owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $140.87 on Friday. The company has a market cap of $41.16 billion, a P/E ratio of 8.62 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The stock's 50-day simple moving average is $139.91 and its 200 day simple moving average is $150.94.

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 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the previous year, the business earned $4.50 EPS. Diamondback Energy's revenue for the quarter was up 81.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.84%. Diamondback Energy's payout ratio is 24.46%.

Wall Street Analyst Weigh In

A number of analysts recently commented on FANG shares. Royal Bank Of Canada began coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective for the company. 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. Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and increased their price objective for the company from $157.00 to $180.00 in a report on Monday, April 7th. Wells Fargo & Company upped their price objective on Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Finally, Truist Financial boosted their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average 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.

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