Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 353,765 shares of the oil and natural gas company's stock after purchasing an additional 12,534 shares during the period. Rhumbline Advisers owned about 0.12% of Diamondback Energy worth $56,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at about $28,000. R Squared Ltd acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $33,000. Key Financial Inc raised its stake in shares of 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 worth $34,000 after buying an additional 188 shares during the period. Finally, Ancora Advisors LLC increased its holdings in Diamondback Energy by 182.9% in the 4th 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 in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Mizuho lowered their price objective on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. KeyCorp reduced their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. 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 report on Tuesday, May 13th. Finally, Scotiabank decreased their price objective on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $193.09.

Insider Activity at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president now owns 120,645 shares of the company's stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Down 2.1%

Diamondback Energy stock traded down $2.93 during trading on Wednesday, hitting $139.35. The company had a trading volume of 2,443,949 shares, compared to its average volume of 2,166,714. The stock has a market cap of $40.71 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The company's 50 day simple moving average is $136.79 and its 200-day simple moving average is $154.48.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (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 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 company earned $4.50 EPS. Diamondback Energy's revenue was up 81.8% on a year-over-year basis. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio is presently 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.