Resolute Wealth Strategies LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,770 shares of the oil and natural gas company's stock, valued at approximately $603,000.
Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Diamondback Energy by 11.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the period. Geode Capital Management LLC raised its position in shares of 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 buying an additional 91,605 shares during the period. Bank of New York Mellon Corp increased its holdings in Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after purchasing an additional 94,177 shares in the last quarter. Demars Financial Group LLC increased its holdings in Diamondback Energy by 5.3% in the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock valued at $655,953,000 after purchasing an additional 208,200 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Diamondback Energy by 12.6% during the fourth quarter. Invesco Ltd. now owns 3,086,468 shares of the oil and natural gas company's stock valued at $505,656,000 after acquiring an additional 345,353 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on FANG. KeyCorp lowered their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Royal Bank Of Canada initiated coverage on Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target for the company. JPMorgan Chase & Co. decreased their price target on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Bank of America lifted their price target on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $191.59.
View Our Latest Report on Diamondback Energy
Diamondback Energy Price Performance
NASDAQ FANG traded down $1.24 on Wednesday, reaching $151.26. The company's stock had a trading volume of 696,528 shares, compared to its average volume of 2,457,846. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $203.98. 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 firm's 50 day moving average is $142.15 and its two-hundred day moving average is $147.54. The stock has a market cap of $44.19 billion, a PE ratio of 9.25 and a beta of 1.05.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the prior year, the business posted $4.50 earnings per share. Diamondback Energy's revenue was up 81.8% compared to the same quarter last year. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.
Diamondback Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.64%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's dividend payout ratio is currently 24.46%.
Insider Transactions at Diamondback Energy
In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the 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 sale, the president directly owned 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company's stock.
Diamondback Energy Profile
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Free Report)
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.
Further Reading

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