Wealth Advisory Solutions LLC Buys New Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

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

A number of other hedge funds have also recently bought and sold shares of FANG. Investor s Fiduciary Advisor Network LLC lifted its position in Diamondback Energy by 2.1% in the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after purchasing an additional 74 shares during the period. Grove Bank & Trust raised its stake in shares of Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock valued at $32,000 after buying an additional 80 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Diamondback Energy by 6.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after acquiring an additional 82 shares during the period. Catalyst Capital Advisors LLC boosted its position in shares of Diamondback Energy by 60.9% during the 1st quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company's stock valued at $35,000 after acquiring an additional 84 shares in the last quarter. Finally, Center for Financial Planning Inc. increased its stake in Diamondback Energy by 6.4% in the first quarter. Center for Financial Planning Inc. now owns 1,449 shares of the oil and natural gas company's stock valued at $232,000 after acquiring an additional 87 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank Of Canada started coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Truist Financial raised their price target 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. Evercore ISI initiated coverage on Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price objective on the stock. Finally, Susquehanna decreased their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of "Buy" and a consensus target price of $193.35.

Diamondback Energy Stock Up 0.9%

FANG stock traded up $1.30 during trading hours on Friday, reaching $144.33. 1,333,363 shares of the stock were exchanged, compared to its average volume of 2,288,047. The firm's 50-day moving average is $140.94 and its 200-day moving average is $149.67. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a market cap of $42.17 billion, a price-to-earnings ratio of 8.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results 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. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter last year, the firm earned $4.50 EPS. Diamondback Energy's revenue for the quarter was up 81.8% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.77%. Diamondback Energy's dividend payout ratio is 24.46%.

Insider Buying and Selling at Diamondback Energy

In other 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 sale, the president owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

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.