Wealthfront Advisers LLC Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Wealthfront Advisers LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 80,221 shares of the oil and natural gas company's stock after acquiring an additional 3,732 shares during the quarter. Wealthfront Advisers LLC's holdings in Diamondback Energy were worth $12,826,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Invera Wealth Advisors LLC lifted its holdings in Diamondback Energy by 11.9% during the 1st quarter. Invera Wealth Advisors LLC now owns 7,874 shares of the oil and natural gas company's stock valued at $1,257,000 after buying an additional 840 shares in the last quarter. Lord & Richards Wealth Management LLC boosted its holdings in shares of Diamondback Energy by 132.0% in the 1st quarter. Lord & Richards Wealth Management LLC now owns 7,149 shares of the oil and natural gas company's stock valued at $1,143,000 after acquiring an additional 4,067 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in Diamondback Energy in the first quarter valued at approximately $560,000. Dakota Wealth Management raised its holdings in Diamondback Energy by 58.9% in the 1st quarter. Dakota Wealth Management now owns 2,720 shares of the oil and natural gas company's stock worth $435,000 after purchasing an additional 1,008 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in shares of Diamondback Energy by 7.9% during the first quarter. SBI Securities Co. Ltd. now owns 2,132 shares of the oil and natural gas company's stock worth $341,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded up $4.27 on Thursday, reaching $140.74. 985,384 shares of the company were exchanged, compared to its average volume of 2,510,234. The company has a 50-day moving average of $141.52 and a 200-day moving average of $149.18. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The firm has a market cap of $41.12 billion, a price-to-earnings ratio of 8.59 and a beta of 1.05. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $212.27.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the business posted $4.50 earnings per share. The firm's revenue for the quarter was up 81.8% compared to the same quarter last year. Equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.84%. Diamondback Energy's payout ratio is 24.46%.

Insiders Place Their Bets

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's 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 completion of the transaction, the president directly owned 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

FANG has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Raymond James Financial reissued a "strong-buy" rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Mizuho decreased their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Piper Sandler reissued an "overweight" rating and set a $228.00 price objective (up from $225.00) on shares of Diamondback Energy in a research report on Thursday. Two 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $193.48.

Diamondback Energy Company 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.