Diamondback Energy, Inc. (NASDAQ:FANG) Position Increased by TCG Advisory Services LLC

TCG Advisory Services LLC lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 887.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,800 shares of the oil and natural gas company’s stock after purchasing an additional 30,376 shares during the period. TCG Advisory Services LLC’s holdings in Diamondback Energy were worth $5,242,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. lifted its holdings in Diamondback Energy by 1.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after acquiring an additional 64 shares during the last quarter. MCF Advisors LLC boosted its position in Diamondback Energy by 8.6% during the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 67 shares during the period. Veracity Capital LLC grew its stake in Diamondback Energy by 3.5% during the 3rd quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock worth $319,000 after buying an additional 70 shares during the last quarter. Bleakley Financial Group LLC increased its position in Diamondback Energy by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after buying an additional 75 shares during the period. Finally, Simplicity Solutions LLC lifted its stake in Diamondback Energy by 2.5% in the fourth quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after buying an additional 75 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on FANG. Evercore ISI upped their price target on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $129.00 to $170.00 in a report on Monday, February 12th. KeyCorp increased their price objective on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Raymond James cut their target price on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Mizuho raised their price target on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $204.37.

Insider Activity at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares in the company, valued at $15,031,153.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded up $3.87 on Friday, reaching $201.50. 1,873,837 shares of the company traded hands, compared to its average volume of 1,530,138. The stock has a market capitalization of $35.94 billion, a PE ratio of 11.36 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.74. The company’s 50 day moving average is $195.49 and its 200-day moving average is $170.81. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. Diamondback Energy’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.10 earnings per share. As a group, analysts anticipate that Diamondback Energy, Inc. will post 18.91 earnings per share 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. Stockholders of record on Wednesday, May 15th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

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.