World Investment Advisors Has $4 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

World Investment Advisors lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 8.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,991 shares of the oil and natural gas company's stock after buying an additional 2,004 shares during the quarter. World Investment Advisors' holdings in Diamondback Energy were worth $3,996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jones Financial Companies Lllp raised its stake in Diamondback Energy by 24.6% in the fourth quarter. Jones Financial Companies Lllp now owns 6,720 shares of the oil and natural gas company's stock valued at $1,101,000 after purchasing an additional 1,327 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Diamondback Energy in the fourth quarter valued at about $210,000. Candriam S.C.A. raised its stake in Diamondback Energy by 27.4% in the fourth quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock valued at $3,447,000 after purchasing an additional 4,529 shares in the last quarter. Callan Family Office LLC acquired a new position in Diamondback Energy in the fourth quarter valued at about $841,000. Finally, Ashton Thomas Private Wealth LLC raised its stake in Diamondback Energy by 30.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 18,158 shares of the oil and natural gas company's stock valued at $2,975,000 after purchasing an additional 4,291 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Ratings Changes

FANG has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Scotiabank decreased their target price on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Bank of America boosted their target price on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Piper Sandler lowered their target price on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. 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's stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of "Buy" and an average price target of $193.13.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $140.75 on Friday. The business has a 50 day moving average of $140.42 and a 200-day moving average of $150.00. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The company has a market capitalization of $41.12 billion, a P/E ratio of 8.61 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company's revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.50 EPS. On average, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current 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 given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's dividend payout ratio is presently 24.46%.

Insiders Place Their Bets

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction that occurred on 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 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.