TruWealth Advisors LLC Increases Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

TruWealth Advisors LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 125,215 shares of the oil and natural gas company's stock after buying an additional 25,690 shares during the quarter. Diamondback Energy accounts for approximately 1.2% of TruWealth Advisors LLC's holdings, making the stock its 27th largest holding. TruWealth Advisors LLC's holdings in Diamondback Energy were worth $20,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Boston Partners lifted its position in Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after buying an additional 571,820 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Diamondback Energy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after purchasing an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock worth $682,036,000 after purchasing an additional 502,916 shares during the last quarter. Finally, Demars Financial Group LLC bought a new position in Diamondback Energy during the fourth quarter worth $638,050,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the business'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 sale, the president now owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FANG. Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and lifted their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Royal Bank of Canada initiated coverage on Diamondback Energy in a research report on Friday, May 2nd. They set an "outperform" rating and a $180.00 target price for the company. KeyCorp decreased their price target on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Barclays cut their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Bank of America increased their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Diamondback Energy has an average rating of "Buy" and an average target price of $193.09.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $1.90 during trading hours on Thursday, hitting $137.45. 2,062,631 shares of the company's stock traded hands, compared to its average volume of 2,167,978. The stock has a market capitalization of $40.16 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a fifty day simple moving average of $136.43 and a 200-day simple moving average of $154.37.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm's quarterly revenue was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.50 EPS. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

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.