Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,094,071 shares of the oil and natural gas company’s stock after acquiring an additional 112,787 shares during the period. Raymond James & Associates owned about 0.61% of Diamondback Energy worth $216,812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. CreativeOne Wealth LLC purchased a new position in Diamondback Energy in the third quarter worth $247,000. Czech National Bank increased its holdings in shares of Diamondback Energy by 45.7% in the 3rd quarter. Czech National Bank now owns 31,253 shares of the oil and natural gas company’s stock valued at $4,840,000 after purchasing an additional 9,806 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Diamondback Energy by 1.6% in the third quarter. Asset Management One Co. Ltd. now owns 68,545 shares of the oil and natural gas company’s stock valued at $10,616,000 after purchasing an additional 1,062 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in Diamondback Energy by 3.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock worth $278,000 after buying an additional 64 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in Diamondback Energy by 1.5% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,075 shares of the oil and natural gas company’s stock worth $1,715,000 after buying an additional 165 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial lifted their price target on shares of Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Bank Of America (Bofa) reduced their price target on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. Scotiabank lifted their price objective on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Mizuho upped their target price on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Raymond James lowered their target price on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.53.

Diamondback Energy Stock Up 0.3 %

Shares of FANG stock traded up $0.66 on Friday, hitting $207.76. The stock had a trading volume of 1,184,009 shares, compared to its average volume of 1,327,313. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The firm has a market capitalization of $37.05 billion, a price-to-earnings ratio of 11.98 and a beta of 1.93. 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’s 50 day moving average is $193.25 and its 200-day moving average is $169.49.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company posted $5.29 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts expect that Diamondback Energy, Inc. will post 18.83 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were issued a dividend of $3.08 per share. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 5.93%. Diamondback Energy’s payout ratio is currently 20.76%.

Insider Buying and Selling at Diamondback Energy

In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the sale, the chief financial officer now 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 is available through the SEC website. In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’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 sale, 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 filing with the SEC, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 in the last three months. Corporate 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.