Roberts Wealth Advisors LLC Acquires New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Roberts Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 10,338 shares of the oil and natural gas company's stock, valued at approximately $1,653,000.

Other hedge funds also recently made changes to their positions in the company. Wintrust Investments LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $28,000. Grove Bank & Trust grew its stake in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock valued at $32,000 after acquiring an additional 80 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $33,000. Transce3nd LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $38,000. Finally, Ancora Advisors LLC grew its stake in shares of 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 acquiring an additional 150 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FANG. UBS Group cut their price objective on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Truist Financial boosted their price target on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Williams Trading set a $190.00 price target on Diamondback Energy in a report on Wednesday, March 5th. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and boosted their price target for the stock from $157.00 to $180.00 in a report on Monday, April 7th. Finally, Bank of America boosted their price target on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Two investment 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $193.13.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $148.78 on Friday. The stock's fifty day moving average is $138.78 and its 200 day moving average is $151.94. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The firm has a market capitalization of $43.47 billion, a PE ratio of 9.10, a PEG ratio of 1.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly 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. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company 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 firm posted $4.50 EPS. Diamondback Energy's quarterly revenue was up 81.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.69%. Diamondback Energy's payout ratio is presently 24.46%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

About Diamondback Energy

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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