16,458 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Acquired by Wealth Advisory Solutions LLC

Wealth Advisory Solutions LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,458 shares of the oil and natural gas company's stock, valued at approximately $2,631,000.

Several other institutional investors have also recently modified their holdings of the company. Wintrust Investments LLC acquired a new stake in Diamondback Energy during the 4th quarter worth about $28,000. Pinnacle Bancorp Inc. boosted its stake in shares of Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after buying an additional 88 shares during the last quarter. Grove Bank & Trust grew its holdings in Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares during the period. WASHINGTON TRUST Co raised its position in Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock valued at $32,000 after acquiring an additional 109 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $33,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the president directly owned 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Shares of NASDAQ FANG traded up $0.12 during mid-day trading on Thursday, reaching $142.24. The company's stock had a trading volume of 848,405 shares, compared to its average volume of 2,282,906. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The stock has a market capitalization of $41.56 billion, a P/E ratio of 8.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The stock has a 50-day moving average of $140.77 and a two-hundred day moving average of $149.76.

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 earnings per share for the quarter, topping analysts' consensus estimates 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 previous year, the company posted $4.50 earnings per share. The firm's revenue for the quarter was up 81.8% compared to the same quarter last year. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.81%. Diamondback Energy's payout ratio is 24.46%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FANG. Piper Sandler cut their target price 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. Wells Fargo & Company raised their price target on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Truist Financial lifted their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and increased their target price for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Finally, Royal Bank Of Canada started coverage on Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target for the company. Two equities research 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 company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $193.13.

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.