Wesbanco Bank Inc. Has $14.40 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Wesbanco Bank Inc. increased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 29.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,665 shares of the oil and natural gas company's stock after buying an additional 16,493 shares during the quarter. Wesbanco Bank Inc.'s holdings in Diamondback Energy were worth $14,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CWM LLC boosted its stake in shares of Diamondback Energy by 1.8% in the 4th quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company's stock valued at $3,058,000 after purchasing an additional 354 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Diamondback Energy by 145.2% in the fourth quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company's stock valued at $1,860,000 after buying an additional 7,102 shares during the period. Larson Financial Group LLC increased its stake in shares of Diamondback Energy by 748.0% in the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company's stock valued at $2,361,000 after acquiring an additional 13,426 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Diamondback Energy by 613.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company's stock worth $2,388,000 after purchasing an additional 13,243 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of Diamondback Energy by 143.0% during the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company's stock valued at $152,177,000 after purchasing an additional 577,514 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the company's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.94, for a total transaction of $969,700.00. Following the completion of the transaction, the executive vice president now owns 44,445 shares in the company, valued at $8,619,663.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,675 shares of company stock valued at $11,311,096. Company insiders own 0.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FANG shares. 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) reduced 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 report on Thursday, January 18th. Raymond James dropped their target price on shares of Diamondback Energy from $190.00 to $185.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, January 24th. Evercore ISI lifted their price target on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, March 25th. Finally, Stifel Nicolaus boosted their target price on Diamondback Energy from $224.00 to $229.00 and gave the company a "buy" rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $202.53.

Diamondback Energy Stock Performance

NASDAQ FANG traded up $1.62 on Thursday, reaching $197.63. 1,899,097 shares of the stock were exchanged, compared to its average volume of 1,743,736. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96. The company's 50-day simple moving average is $194.99 and its two-hundred day simple moving average is $170.58. The firm has a market capitalization of $35.25 billion, a PE ratio of 11.14 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.69%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the firm earned $4.10 earnings per share. The company's quarterly revenue was up 15.7% compared to the same quarter last year. Analysts expect that Diamondback Energy, Inc. will post 18.94 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.82%. Diamondback Energy's dividend payout ratio (DPR) is presently 20.29%.

Diamondback Energy Company 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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