Western Wealth Management LLC Has $214,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Western Wealth Management LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 65.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,339 shares of the oil and natural gas company's stock after selling 2,517 shares during the quarter. Western Wealth Management LLC's holdings in Diamondback Energy were worth $214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Demars Financial Group LLC bought a new stake in Diamondback Energy in the fourth quarter valued at $638,050,000. Raymond James Financial Inc. acquired a new stake in shares of Diamondback Energy in the 4th quarter worth about $298,327,000. Alyeska Investment Group L.P. bought a new stake in Diamondback Energy in the 4th quarter valued at about $185,193,000. Price T Rowe Associates Inc. MD boosted its stake in Diamondback Energy by 11.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after purchasing an additional 928,429 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its position in Diamondback Energy by 30.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after purchasing an additional 658,644 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler lowered their target price on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Scotiabank cut their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Raymond James Financial reiterated a "strong-buy" rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Evercore ISI initiated coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target on the stock. Finally, Mizuho decreased their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $193.13.

Diamondback Energy Stock Up 2.0%

NASDAQ FANG traded up $2.80 during trading on Tuesday, reaching $140.20. 2,011,617 shares of the company's stock were exchanged, compared to its average volume of 2,274,734. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The company's fifty day simple moving average is $140.05 and its 200-day simple moving average is $150.43. The firm has a market capitalization of $40.96 billion, a PE ratio of 8.57 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping the consensus estimate of $3.67 by $0.87. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm's quarterly revenue was up 81.8% compared to the same quarter last year. During the same period last year, the company posted $4.50 earnings per share. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current 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 issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio is currently 24.46%.

Insider Buying and Selling at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction 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 trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company's stock.

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.