MBE Wealth Management LLC Invests $299,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

MBE Wealth Management LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,870 shares of the oil and natural gas company's stock, valued at approximately $299,000.

A number of other institutional investors have also bought and sold shares of FANG. Demars Financial Group LLC bought a new stake in Diamondback Energy during the fourth quarter valued at $638,050,000. Raymond James Financial Inc. bought a new position in shares of Diamondback Energy during the 4th quarter worth about $298,327,000. Alyeska Investment Group L.P. bought a new position in shares of Diamondback Energy during the 4th quarter worth about $185,193,000. Price T Rowe Associates Inc. MD boosted 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 worth $1,496,859,000 after purchasing an additional 928,429 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Diamondback Energy by 30.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after purchasing an additional 658,644 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Up 0.0%

NASDAQ:FANG traded up $0.07 on Friday, hitting $148.85. The stock had a trading volume of 4,309,087 shares, compared to its average volume of 2,244,738. 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 stock has a market cap of $43.49 billion, a P/E ratio of 9.10 and a beta of 1.06. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The firm's fifty day simple moving average is $139.18 and its two-hundred day simple moving average is $151.47.

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 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. The firm had revenue of $4.05 billion during 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 company's revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter last year, the business posted $4.50 EPS. Analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.69%. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

Insider Buying and Selling at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction that occurred 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 sale, the president now owns 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FANG. Scotiabank cut their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 5th. Raymond James Financial reissued a "strong-buy" rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Mizuho cut their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays cut their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Two equities 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, the stock currently has an average rating of "Buy" and a consensus price target 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.