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

Requisite Capital Management LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 501.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 comprises approximately 2.1% of Requisite Capital Management LLC's portfolio, making the stock its 11th biggest holding. Requisite Capital Management LLC's holdings in Diamondback Energy were worth $9,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $28,000. Fourth Dimension Wealth LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $33,000. Key Financial Inc lifted its stake in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after acquiring an additional 188 shares during the period. Transce3nd LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $38,000. Finally, Ancora Advisors LLC lifted its stake in Diamondback Energy by 182.9% in the fourth quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company's stock worth $38,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FANG. Truist Financial raised their price target on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Piper Sandler dropped their price target on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Royal Bank of Canada initiated coverage on Diamondback Energy in a research report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price objective for the company. Morgan Stanley lowered their price objective on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, UBS Group lowered their price objective on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research report 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, the company has an average rating of "Buy" and an average price target of $193.09.

Insider Buying and Selling

In other Diamondback Energy 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 transaction of $1,426,900.00. Following the completion of the sale, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

NASDAQ FANG traded up $5.58 during trading hours on Friday, hitting $154.91. The company's stock had a trading volume of 5,206,181 shares, compared to its average volume of 2,212,413. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company's 50 day simple moving average is $136.28 and its two-hundred day simple moving average is $152.81. The company has a market cap of $45.26 billion, a P/E ratio of 8.87, a price-to-earnings-growth 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 released its quarterly earnings data 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. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period last year, the company earned $4.50 EPS. Diamondback Energy's revenue for the quarter 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 fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed 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 2.58%. Diamondback Energy's payout ratio is 24.46%.

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.