Investment House LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Investment House LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,000 shares of the oil and natural gas company's stock, valued at approximately $930,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BKM Wealth Management LLC acquired a new position in Diamondback Energy during the fourth quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new position in shares of Diamondback Energy during the third quarter worth $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $34,000. CVA Family Office LLC bought a new stake in shares of Diamondback Energy in the 4th quarter valued at $35,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in Diamondback Energy by 559.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company's stock worth $40,000 after buying an additional 218 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

NASDAQ:FANG traded down $4.73 during mid-day trading on Tuesday, hitting $201.13. The stock had a trading volume of 2,042,402 shares, compared to its average volume of 1,728,141. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month 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 stock has a market cap of $35.87 billion, a price-to-earnings ratio of 11.87 and a beta of 1.93. The company's 50 day simple moving average is $193.78 and its 200 day simple moving average is $169.96.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.23 by $0.27. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.10 billion. During the same period last year, the firm posted $4.10 earnings per share. The business's revenue was up 15.7% on a year-over-year basis. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 18.83 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.79%. Diamondback Energy's dividend payout ratio (DPR) is 20.76%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group upped their target price on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 14th. Bank of America upgraded Diamondback Energy from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $129.00 to $170.00 in a report on Monday, February 12th. Barclays assumed coverage on Diamondback Energy in a research note on Wednesday, April 10th. They issued an "equal weight" rating and a $214.00 target price on the stock. Bank Of America (Bofa) decreased their price target on shares of Diamondback Energy from $147.00 to $129.00 and set an "underperform" rating for the company in a research note on Thursday, January 18th. Finally, Stifel Nicolaus lifted their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a "buy" rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $202.53.

Insider Buying and Selling at Diamondback Energy

In related news, VP Jere W. Thompson III sold 2,675 shares of the company's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total value of $514,536.25. Following the transaction, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jere W. Thompson III sold 2,675 shares of the business's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the completion of the sale, the vice president now directly owns 8,485 shares of the company's stock, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock worth $11,311,096 over the last ninety days. Insiders own 0.43% 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.