Signal Advisors Wealth LLC Has $3.61 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

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

A number of other hedge funds have also recently made changes to their positions in FANG. Demars Financial Group LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at about $638,050,000. Raymond James Financial Inc. acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at about $298,327,000. Alyeska Investment Group L.P. acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at about $185,193,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Diamondback Energy by 11.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after purchasing an additional 928,429 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Diamondback Energy by 30.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock valued at $461,600,000 after purchasing an additional 658,644 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FANG. Royal Bank of Canada began coverage on Diamondback Energy in a research report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price objective for the company. Wells Fargo & Company lowered their price objective on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Evercore ISI began coverage on Diamondback Energy in a research report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price objective for the company. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Finally, Susquehanna lowered their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $193.09.

Diamondback Energy Trading Down 1.4%

NASDAQ FANG opened at $137.45 on Friday. The company has a market cap of $40.16 billion, a price-to-earnings ratio of 7.87, a P/E/G ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The business has a 50 day moving average price of $135.98 and a 200-day moving average price of $154.07. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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. The firm had revenue of $4.05 billion during 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%. The company's quarterly revenue was up 81.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.50 earnings per share. As a group, equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal 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 dividend yield of 2.91%. Diamondback Energy's payout ratio is 24.46%.

Insider Activity at Diamondback Energy

In related 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 stock was sold at an average price of $142.69, for a total transaction 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. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by insiders.

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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