Signal Advisors Wealth LLC Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Signal Advisors Wealth LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 34.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,574 shares of the oil and natural gas company's stock after buying an additional 5,735 shares during the period. Signal Advisors Wealth LLC's holdings in Diamondback Energy were worth $3,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. lifted its stake in shares of Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after buying an additional 3,238 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Diamondback Energy by 27.4% during the fourth quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock valued at $3,447,000 after purchasing an additional 4,529 shares during the last quarter. SevenBridge Financial Group LLC raised its holdings in shares of Diamondback Energy by 10.8% during the fourth quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company's stock valued at $3,303,000 after purchasing an additional 1,990 shares during the last quarter. Tower Bridge Advisors raised its holdings in shares of Diamondback Energy by 27.4% during the fourth quarter. Tower Bridge Advisors now owns 8,828 shares of the oil and natural gas company's stock valued at $1,446,000 after purchasing an additional 1,898 shares during the last quarter. Finally, Boothe Investment Group Inc. raised its holdings in shares of Diamondback Energy by 33.3% during the fourth quarter. Boothe Investment Group Inc. now owns 20,097 shares of the oil and natural gas company's stock valued at $3,292,000 after purchasing an additional 5,022 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Insider Activity

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president now directly owns 120,645 shares of the company's stock, 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FANG. Susquehanna decreased their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Morgan Stanley reduced their target price on shares of Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Evercore ISI initiated coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 target price for the company. Finally, Scotiabank reduced their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Diamondback Energy currently has an average rating of "Buy" and a consensus target price of $193.09.

Diamondback Energy Stock Performance

FANG stock traded up $1.57 during trading on Monday, reaching $142.13. The company had a trading volume of 1,733,835 shares, compared to its average volume of 2,178,560. The firm has a 50-day simple moving average of $135.58 and a 200-day simple moving average of $153.40. The company has a market cap of $41.53 billion, a price-to-earnings ratio of 8.14, 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. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data 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 net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same period in the previous year, the business posted $4.50 EPS. The business's quarterly revenue was up 81.8% compared to the same quarter last year. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) 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.