Belpointe Asset Management LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 19.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,687 shares of the oil and natural gas company’s stock after purchasing an additional 271 shares during the period. Belpointe Asset Management LLC’s holdings in Diamondback Energy were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in FANG. Invesco Ltd. grew its position in shares of Diamondback Energy by 38.9% in the 4th quarter. Invesco Ltd. now owns 3,311,337 shares of the oil and natural gas company’s stock valued at $357,129,000 after acquiring an additional 927,878 shares during the period. THRC Management LLC bought a new position in shares of Diamondback Energy in the 4th quarter valued at about $86,532,000. State Street Corp grew its position in shares of Diamondback Energy by 5.8% in the 4th quarter. State Street Corp now owns 11,173,356 shares of the oil and natural gas company’s stock valued at $1,205,046,000 after acquiring an additional 607,766 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Diamondback Energy by 990.8% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 505,677 shares of the oil and natural gas company’s stock valued at $54,537,000 after acquiring an additional 459,318 shares during the period. Finally, Northern Trust Corp grew its position in shares of Diamondback Energy by 15.2% in the 4th quarter. Northern Trust Corp now owns 2,148,688 shares of the oil and natural gas company’s stock valued at $231,736,000 after acquiring an additional 283,086 shares during the period. Institutional investors own 89.97% of the company’s stock.
Insider Activity at Diamondback Energy
In related news, CFO Hof Matthew Kaes Van’t sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $150.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer now directly owns 67,334 shares of the company’s stock, valued at approximately $10,100,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $150.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer now directly owns 67,334 shares of the company’s stock, valued at approximately $10,100,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Teresa L. Dick sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $152.22, for a total transaction of $380,550.00. Following the sale, the chief accounting officer now directly owns 57,308 shares in the company, valued at $8,723,423.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,500 shares of company stock valued at $6,740,850. 0.42% of the stock is owned by insiders.
Diamondback Energy Price Performance
Shares of NASDAQ:FANG opened at $118.77 on Thursday. The firm has a 50 day moving average of $131.93 and a 200-day moving average of $131.67. The stock has a market capitalization of $21.08 billion, a PE ratio of 7.83, a PEG ratio of 0.20 and a beta of 2.20. The company has a current ratio of 0.72, a quick ratio of 0.69 and a debt-to-equity ratio of 0.42. Diamondback Energy, Inc. has a 12 month low of $65.93 and a 12 month high of $162.24.
Diamondback Energy (NASDAQ:FANG – Get Rating) last issued its earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 EPS for the quarter, beating the consensus estimate of $4.74 by $0.46. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Diamondback Energy had a net margin of 34.17% and a return on equity of 19.91%. During the same period in the previous year, the company earned $2.30 EPS. On average, equities research analysts predict that Diamondback Energy, Inc. will post 26.02 EPS for the current fiscal year.
Diamondback Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, May 23rd. Investors of record on Thursday, May 12th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, May 11th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 2.36%. Diamondback Energy’s payout ratio is 18.46%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on FANG shares. Barclays lifted their price objective on shares of Diamondback Energy from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, June 14th. Wells Fargo & Company cut their target price on shares of Diamondback Energy from $200.00 to $192.00 and set an “overweight” rating for the company in a research note on Monday, July 11th. Truist Financial raised their target price on shares of Diamondback Energy from $185.00 to $203.00 in a research note on Tuesday. Bank of America cut their target price on shares of Diamondback Energy from $170.00 to $143.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Susquehanna raised their target price on shares of Diamondback Energy from $152.00 to $167.00 and gave the stock a “positive” rating in a research note on Monday, April 25th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $169.68.
About Diamondback Energy
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.
See Also
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Source: defenseworld.net
