Tyche Wealth Partners LLC Purchases New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

Tyche Wealth Partners LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,814 shares of the oil and natural gas company's stock, valued at approximately $1,057,000.

Several other hedge funds also recently made changes to their positions in FANG. Patriot Financial Group Insurance Agency LLC boosted its holdings in Diamondback Energy by 3.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company's stock worth $278,000 after acquiring an additional 64 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Diamondback Energy by 1.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company's stock worth $566,000 after acquiring an additional 64 shares in the last quarter. Veracity Capital LLC boosted its holdings in Diamondback Energy by 3.5% in the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company's stock worth $319,000 after acquiring an additional 70 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Diamondback Energy by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company's stock worth $483,000 after acquiring an additional 75 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its holdings in Diamondback Energy by 2.5% in the fourth quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company's stock worth $483,000 after acquiring an additional 75 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Down 0.7 %

FANG stock traded down $1.40 during midday trading on Tuesday, reaching $203.95. 1,331,608 shares of the company traded hands, compared to its average volume of 1,771,844. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The business has a 50 day moving average of $185.96 and a 200-day moving average of $166.40. The firm has a market capitalization of $36.37 billion, a price-to-earnings ratio of 11.84 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business posted $5.29 earnings per share. The company's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 18.47 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a $3.08 dividend. This represents a $12.32 annualized dividend and a dividend yield of 6.04%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy's dividend payout ratio is presently 20.76%.

Analysts Set New Price Targets

A number of analysts recently commented on FANG shares. Susquehanna upped their price objective on Diamondback Energy from $190.00 to $195.00 and gave the company a "positive" rating in a research report on Tuesday, February 13th. Barclays started coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an "equal weight" rating and a $214.00 price objective for the company. KeyCorp upped their price objective on Diamondback Energy from $186.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. Morgan Stanley reduced their price objective on Diamondback Energy from $186.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Bank Of America (Bofa) reduced their price objective on Diamondback Energy from $147.00 to $129.00 and set an "underperform" rating for the company in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $195.95.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the firm's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares in the company, valued at approximately $15,031,153.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the firm's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares in the company, valued at approximately $15,031,153.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by company insiders.

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.

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