Park Place Capital Corp Has $1.81 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Park Place Capital Corp increased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 72.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,345 shares of the oil and natural gas company's stock after acquiring an additional 4,764 shares during the quarter. Park Place Capital Corp's holdings in Diamondback Energy were worth $1,814,000 at the end of the most recent quarter.

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

Diamondback Energy Price Performance

Shares of FANG stock opened at $140.87 on Friday. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The stock has a market capitalization of $41.16 billion, a PE 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. The stock's fifty day moving average is $139.91 and its 200-day moving average is $150.94.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the firm earned $4.50 EPS. The company's revenue was up 81.8% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. 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 currently 24.46%.

Insider Activity

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction on 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 transaction, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on FANG shares. Susquehanna cut their price target on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Truist Financial upped their target price on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and raised their target price for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Royal Bank Of Canada initiated coverage on shares of Diamondback Energy in a report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target on the stock. Finally, UBS Group dropped their price objective 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 equities research analysts have rated the stock with a hold rating, nineteen have given 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 a consensus target price of $193.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.