Requisite Capital Management LLC Purchases 49,428 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Requisite Capital Management LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 501.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,281 shares of the oil and natural gas company's stock after purchasing an additional 49,428 shares during the period. Diamondback Energy makes up about 2.1% of Requisite Capital Management LLC's holdings, making the stock its 11th biggest position. Requisite Capital Management LLC's holdings in Diamondback Energy were worth $9,478,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Diamondback Energy by 11.3% during 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 during the period. Boston Partners increased its holdings in Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after acquiring an additional 571,820 shares during the period. Geode Capital Management LLC lifted its stake in Diamondback Energy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after purchasing an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after purchasing an additional 502,916 shares during the period. Finally, Demars Financial Group LLC purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $638,050,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 2.4%

NASDAQ FANG traded up $3.44 during trading on Tuesday, hitting $145.57. 2,282,175 shares of the company's stock traded hands, compared to its average volume of 2,178,972. The stock has a fifty day moving average of $135.19 and a two-hundred day moving average of $153.09. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The firm has a market cap of $42.53 billion, a P/E ratio of 8.33, a PEG ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the company posted $4.50 earnings per share. The business's revenue was up 81.8% on a year-over-year basis. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insider Buying and Selling at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction that occurred 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 sale, the president now directly owns 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FANG shares. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Susquehanna decreased their target price on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Scotiabank dropped their price target on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. 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. Finally, UBS Group lowered their target price on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of "Buy" and a consensus target price of $193.09.

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.