Vest Financial LLC Purchases New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Vest Financial LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 47,138 shares of the oil and natural gas company's stock, valued at approximately $7,536,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wintrust Investments LLC bought a new position in shares of Diamondback Energy in the fourth quarter valued at $28,000. Fourth Dimension Wealth LLC acquired a new position in Diamondback Energy in the 4th quarter valued at approximately $33,000. Key Financial Inc raised its holdings in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after acquiring an additional 188 shares in the last quarter. Ancora Advisors LLC raised 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 worth $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $38,000. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. KeyCorp lowered their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Susquehanna lowered their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Evercore ISI began coverage on Diamondback Energy in a research report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price on the stock. Finally, Bank of America boosted 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 analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy presently has an average rating of "Buy" and an average target price of $193.09.

Insider Buying and Selling

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by insiders.

Diamondback Energy Trading Up 2.4%

NASDAQ FANG traded up $3.44 during trading hours on Tuesday, reaching $145.57. The company's stock had a trading volume of 2,282,175 shares, compared to its average volume of 2,183,844. The firm has a fifty day simple moving average of $135.27 and a 200-day simple moving average of $153.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The stock has a market cap of $42.53 billion, a P/E ratio of 8.33, a P/E/G ratio of 1.24 and a beta of 1.06.

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 (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 firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the firm earned $4.50 earnings per share. The company's revenue for the quarter was up 81.8% on a year-over-year basis. Equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.75%. Diamondback Energy's dividend payout ratio (DPR) is 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.