Peterson Wealth Services Buys Shares of 12,332 Diamondback Energy, Inc. (NASDAQ:FANG)

Peterson Wealth Services acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,332 shares of the oil and natural gas company's stock, valued at approximately $1,912,000.

Several other large investors have also modified their holdings of FANG. BKM Wealth Management LLC acquired a new stake in Diamondback Energy during the 4th quarter worth approximately $27,000. BluePath Capital Management LLC acquired a new stake in shares of Diamondback Energy during the third quarter worth $28,000. FinTrust Capital Advisors LLC grew its position in Diamondback Energy by 232.8% in the 4th quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company's stock valued at $29,000 after buying an additional 149 shares during the last quarter. Carolinas Wealth Consulting LLC increased its stake in Diamondback Energy by 366.7% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company's stock valued at $31,000 after buying an additional 176 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Diamondback Energy during the 3rd quarter worth $32,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares of the company's stock, valued at $15,031,153.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now directly owns 8,485 shares of the company's stock, valued at $1,632,089.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of the business's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the transaction, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. In the last three months, insiders sold 57,675 shares of company stock valued at $11,311,096. Company insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday. Mizuho increased their target price on Diamondback Energy from $200.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, April 11th. Royal Bank of Canada restated an "outperform" rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Monday, March 4th. Stifel Nicolaus increased their price objective on Diamondback Energy from $192.00 to $224.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. Finally, Scotiabank boosted their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.95.

Diamondback Energy Price Performance

Diamondback Energy stock traded down $1.55 during midday trading on Thursday, reaching $199.60. 1,063,039 shares of the company were exchanged, compared to its average volume of 1,759,817. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The company has a market capitalization of $35.60 billion, a price-to-earnings ratio of 11.51 and a beta of 1.93. The firm's 50-day simple moving average is $188.92 and its 200-day simple moving average is $167.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.29 earnings per share. On average, analysts anticipate that Diamondback Energy, Inc. will post 18.52 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a yield of 6.17%. This is a boost from Diamondback Energy's previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy's payout ratio is 20.76%.

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.