Creative Financial Designs Inc. ADV grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 235.0% during the first quarter, HoldingsChannel.com reports. The firm owned 335 shares of the oil and natural gas company’s stock after buying an additional 235 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Diamondback Energy were worth $46,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. SevenBridge Financial Group LLC raised its stake in Diamondback Energy by 16.0% during the 1st quarter. SevenBridge Financial Group LLC now owns 4,476 shares of the oil and natural gas company’s stock worth $614,000 after buying an additional 617 shares during the period. CFM Wealth Partners LLC acquired a new stake in Diamondback Energy during the 1st quarter worth $449,000. Rosenberg Matthew Hamilton raised its stake in Diamondback Energy by 333.6% during the 1st quarter. Rosenberg Matthew Hamilton now owns 568 shares of the oil and natural gas company’s stock worth $78,000 after buying an additional 437 shares during the period. State of Alaska Department of Revenue raised its stake in Diamondback Energy by 3.1% during the 1st quarter. State of Alaska Department of Revenue now owns 88,781 shares of the oil and natural gas company’s stock worth $12,168,000 after buying an additional 2,662 shares during the period. Finally, Redpoint Investment Management Pty Ltd acquired a new stake in Diamondback Energy during the 1st quarter worth $308,000. 89.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:FANG opened at $122.31 on Thursday. Diamondback Energy, Inc. has a 52-week low of $65.93 and a 52-week high of $162.24. The company has a market capitalization of $21.71 billion, a P/E ratio of 8.06, a price-to-earnings-growth ratio of 0.21 and a beta of 2.18. The company has a 50-day simple moving average of $137.00 and a 200 day simple moving average of $130.76. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.69 and a current ratio of 0.72.
Diamondback Energy (NASDAQ:FANG – Get Rating) last issued its earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.46. Diamondback Energy had a net margin of 34.17% and a return on equity of 19.91%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the business posted $2.30 EPS. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 26.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 23rd. Shareholders of record on Thursday, May 12th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, May 11th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.29%. Diamondback Energy’s dividend payout ratio (DPR) is 18.46%.
In other Diamondback Energy news, CAO Teresa L. Dick sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $152.22, for a total transaction of $380,550.00. Following the completion of the sale, the chief accounting officer now directly owns 57,308 shares in the company, valued at $8,723,423.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $140.02, for a total transaction of $840,120.00. Following the sale, the chief financial officer now owns 73,334 shares of the company’s stock, valued at $10,268,226.68. The disclosure for this sale can be found here. Insiders have sold 50,500 shares of company stock valued at $7,580,970 over the last 90 days. Company insiders own 0.43% of the company’s stock.
Several analysts recently commented on FANG shares. Truist Financial raised their price objective on Diamondback Energy from $170.00 to $200.00 in a research note on Thursday, April 21st. KeyCorp increased their target price on Diamondback Energy from $152.00 to $164.00 and gave the stock an “overweight” rating in a report on Friday, April 8th. Susquehanna Bancshares increased their target price on Diamondback Energy from $152.00 to $167.00 and gave the stock a “positive” rating in a report on Monday, April 25th. Morgan Stanley lowered their target price on Diamondback Energy from $184.00 to $178.00 and set an “overweight” rating for the company in a report on Monday, June 6th. Finally, Wells Fargo & Company lowered their target price on Diamondback Energy from $204.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, May 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $167.35.
Diamondback Energy Profile (Get Rating)
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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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