WBI Investments LLC Invests $4.81 Million in Diamondback Energy, Inc. (NASDAQ:FANG)

WBI Investments LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,994 shares of the oil and natural gas company's stock, valued at approximately $4,806,000. Diamondback Energy comprises approximately 1.0% of WBI Investments LLC's holdings, making the stock its 23rd biggest holding.

A number of other large investors also recently modified their holdings of FANG. BKM Wealth Management LLC acquired a new position in shares of Diamondback Energy in the fourth quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Diamondback Energy in the fourth quarter valued at $34,000. CVA Family Office LLC bought a new stake in Diamondback Energy in the fourth quarter valued at $35,000. Cary Street Partners Investment Advisory LLC grew its position in Diamondback Energy by 559.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company's stock valued at $40,000 after acquiring an additional 218 shares during the period. Finally, First Horizon Advisors Inc. grew its position in Diamondback Energy by 37.3% in the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company's stock valued at $50,000 after acquiring an additional 87 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 2.1 %

Shares of NASDAQ:FANG traded down $4.22 during trading on Wednesday, hitting $192.34. 1,178,422 shares of the company's stock traded hands, compared to its average volume of 1,685,685. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The company has a market cap of $34.30 billion, a price-to-earnings ratio of 11.08 and a beta of 1.91. The company has a 50-day moving average price of $199.92 and a 200-day moving average price of $173.97.

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 for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.10 billion. During the same quarter in the previous year, the business posted $4.10 EPS. Diamondback Energy's revenue for the quarter was up 15.7% on a year-over-year basis. As a group, research analysts forecast that Diamondback Energy, Inc. will post 19.01 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. Shareholders of record on Wednesday, May 15th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy's payout ratio is 20.29%.

Analyst Upgrades and Downgrades

FANG has been the topic of several research analyst reports. Barclays initiated coverage on Diamondback Energy in a report on Wednesday, April 10th. They set an "equal weight" rating and a $214.00 target price on the stock. Raymond James decreased their target price on Diamondback Energy from $190.00 to $185.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Truist Financial increased their target price on Diamondback Energy from $248.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, April 22nd. Stifel Nicolaus increased their target price on Diamondback Energy from $224.00 to $229.00 and gave the stock a "buy" rating in a report on Tuesday, April 23rd. Finally, Evercore ISI increased their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $205.95.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the sale, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Hof Matthew Kaes Van't sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares of the company's stock, valued at approximately $35,470,003.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now directly owns 7,585 shares in the company, valued at $1,516,241.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,575 shares of company stock worth $11,491,006. Corporate insiders own 0.43% 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.