Nilsine Partners LLC Has $3.40 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Nilsine Partners LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,272 shares of the oil and natural gas company's stock after acquiring an additional 2,216 shares during the quarter. Nilsine Partners LLC's holdings in Diamondback Energy were worth $3,401,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FANG. Demars Financial Group LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $638,050,000. Raymond James Financial Inc. acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $298,327,000. Alyeska Investment Group L.P. acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $185,193,000. Price T Rowe Associates Inc. MD boosted its position in Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after buying an additional 928,429 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock valued at $461,600,000 after buying an additional 658,644 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insiders Place Their Bets

In other Diamondback Energy 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 now directly owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by insiders.

Diamondback Energy Trading Up 0.0%

NASDAQ:FANG opened at $148.85 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The firm has a 50-day moving average of $139.18 and a 200-day moving average of $151.76. The company has a market cap of $43.49 billion, a PE ratio of 9.10, a PEG ratio of 1.35 and a beta of 1.06. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results 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 company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm's revenue for the quarter was up 81.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.50 earnings per share. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal 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 given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's payout ratio is 24.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a report on Wednesday, March 5th. Raymond James Financial reiterated a "strong-buy" rating on shares of Diamondback Energy in a report on Thursday, May 22nd. Royal Bank Of Canada assumed coverage on shares of Diamondback Energy in a report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price target on the stock. Finally, Evercore ISI assumed coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.

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