Lord & Richards Wealth Management LLC Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Lord & Richards Wealth Management LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 132.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,149 shares of the oil and natural gas company's stock after buying an additional 4,067 shares during the period. Diamondback Energy comprises approximately 1.3% of Lord & Richards Wealth Management LLC's holdings, making the stock its 27th biggest holding. Lord & Richards Wealth Management LLC's holdings in Diamondback Energy were worth $1,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new stake in Diamondback Energy during the 1st quarter worth about $560,000. Dakota Wealth Management increased its stake in shares of Diamondback Energy by 58.9% in the 1st quarter. Dakota Wealth Management now owns 2,720 shares of the oil and natural gas company's stock valued at $435,000 after buying an additional 1,008 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Diamondback Energy by 7.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,132 shares of the oil and natural gas company's stock worth $341,000 after buying an additional 156 shares during the period. Apollon Wealth Management LLC grew its stake in shares of Diamondback Energy by 36.4% during the first quarter. Apollon Wealth Management LLC now owns 4,556 shares of the oil and natural gas company's stock worth $728,000 after purchasing an additional 1,217 shares during the period. Finally, Signaturefd LLC grew its holdings in Diamondback Energy by 6.7% during the first quarter. Signaturefd LLC now owns 4,217 shares of the oil and natural gas company's stock valued at $674,000 after purchasing an additional 266 shares during the period. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Diamondback Energy in a research note on Friday. Piper Sandler cut their price objective on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Susquehanna cut 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 target for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Finally, UBS Group cut their target price on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $193.35.

Diamondback Energy Trading Down 1.6%

Shares of FANG stock opened at $141.96 on Tuesday. The business's fifty day moving average is $141.26 and its 200 day moving average is $149.35. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The company has a market capitalization of $41.48 billion, a PE ratio of 8.68 and a beta of 1.05. 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 (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results 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. 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 quarter last year, the business posted $4.50 earnings per share. The company's revenue for the quarter was up 81.8% on a year-over-year basis. On average, equities research analysts anticipate 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. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.82%. Diamondback Energy's dividend payout ratio (DPR) is currently 24.46%.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the business'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 transaction, the president owned 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

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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