RFG Advisory LLC Acquires New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

RFG Advisory LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,383 shares of the oil and natural gas company's stock, valued at approximately $861,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Wintrust Investments LLC bought a new position in Diamondback Energy during the 4th quarter valued at approximately $28,000. Fourth Dimension Wealth LLC bought a new position in Diamondback Energy during the 4th quarter valued at approximately $33,000. Key Financial Inc increased its position in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after buying an additional 188 shares in the last quarter. Transce3nd LLC bought a new position in Diamondback Energy during the 4th quarter valued at approximately $38,000. Finally, Ancora Advisors LLC increased its position in Diamondback Energy by 182.9% during the 4th quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company's stock valued at $38,000 after buying an additional 150 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $137.45 on Friday. The company has a market capitalization of $40.16 billion, a PE ratio of 7.87, 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 quick ratio of 0.42 and a current ratio of 0.45. The business's fifty day moving average is $135.98 and its 200 day moving average is $154.07. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results 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. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy's quarterly revenue was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.50 earnings per share. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.91%. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insider Activity at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the company'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. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on FANG. Piper Sandler reduced their price objective on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Bank of America increased their target price on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Morgan Stanley cut their target price on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Williams Trading set a $190.00 target price on Diamondback Energy in a research note on Wednesday, March 5th. Finally, Scotiabank cut their target price on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.

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