Dohj LLC Acquires New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

Dohj LLC bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,282 shares of the oil and natural gas company’s stock, valued at approximately $509,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in Diamondback Energy in the fourth quarter valued at about $27,000. BluePath Capital Management LLC acquired a new position in shares of Diamondback Energy during the 3rd quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the 4th quarter valued at about $34,000. CVA Family Office LLC acquired a new position in shares of Diamondback Energy during the 4th quarter valued at about $35,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Diamondback Energy by 559.0% during the 3rd 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 last quarter. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler increased their target price on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Bank Of America (Bofa) cut their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $129.00 to $170.00 in a research report on Monday, February 12th. Raymond James lowered their price target on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Scotiabank upped their target price on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $202.53.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jere W. Thompson III sold 2,675 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now owns 8,485 shares in the company, valued at $1,632,089.75. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock worth $11,311,096 over the last quarter. Company insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Up 0.3 %

Shares of NASDAQ FANG traded up $0.66 during midday trading 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. The business’s 50 day moving average is $193.25 and its 200-day moving average is $169.49. The company has a market cap of $37.05 billion, a P/E ratio of 11.98 and a beta of 1.93. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38.

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

Diamondback Energy Increases Dividend

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

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.