Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,702 shares of the oil and natural gas company's stock after selling 2,798 shares during the quarter. OLD National Bancorp IN's holdings in Diamondback Energy were worth $2,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in shares of Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after buying an additional 3,238 shares during the period. Candriam S.C.A. increased its stake in Diamondback Energy by 27.4% during the 4th quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock valued at $3,447,000 after purchasing an additional 4,529 shares in the last quarter. SevenBridge Financial Group LLC increased its holdings in shares of Diamondback Energy by 10.8% in the 4th quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company's stock worth $3,303,000 after purchasing an additional 1,990 shares in the last quarter. Tower Bridge Advisors raised its position in Diamondback Energy by 27.4% in the 4th quarter. Tower Bridge Advisors now owns 8,828 shares of the oil and natural gas company's stock worth $1,446,000 after buying an additional 1,898 shares during the last quarter. Finally, Boothe Investment Group Inc. lifted its position in Diamondback Energy by 33.3% during the fourth quarter. Boothe Investment Group Inc. now owns 20,097 shares of the oil and natural gas company's stock valued at $3,292,000 after purchasing an additional 5,022 shares during the period. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Up 0.3%

Shares of FANG stock traded up $0.41 during trading hours on Thursday, reaching $149.33. 1,757,525 shares of the company's stock were exchanged, compared to its average volume of 2,192,112. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The stock's fifty day moving average price is $135.78 and its two-hundred day moving average price is $153.01. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $43.63 billion, a PE ratio of 8.55, a PEG ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm's quarterly revenue was up 81.8% on a year-over-year basis. During the same quarter last year, the business posted $4.50 EPS. Research analysts predict 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. Investors of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.68%. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insider Buying and Selling

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction dated 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 now owns 120,645 shares of the company's stock, valued at $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 available through the SEC website. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FANG shares. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. 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. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and upped their price target for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Evercore ISI initiated coverage on Diamondback Energy in a research report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price target for the company. Finally, Piper Sandler reduced their price target on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $193.09.

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.