Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Integrated Advisors Network LLC

Integrated Advisors Network LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 92.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,031 shares of the oil and natural gas company’s stock after acquiring an additional 6,272 shares during the quarter. Integrated Advisors Network LLC’s holdings in Diamondback Energy were worth $2,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FANG. CWM LLC boosted its position in shares of Diamondback Energy by 1.8% during the fourth quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock worth $3,058,000 after buying an additional 354 shares during the period. Franklin Resources Inc. grew its position in Diamondback Energy by 14.1% in the 4th quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock valued at $7,852,000 after acquiring an additional 6,240 shares in the last quarter. Raymond James Trust N.A. grew its position in Diamondback Energy by 145.2% in the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after acquiring an additional 7,102 shares in the last quarter. Larson Financial Group LLC increased its stake in Diamondback Energy by 748.0% during the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after purchasing an additional 13,426 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Diamondback Energy by 613.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after purchasing an additional 13,243 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FANG. Scotiabank lifted their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Wells Fargo & Company lowered their target price on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Morgan Stanley reduced their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus boosted their price objective on Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Susquehanna raised their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.35.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded down $4.38 during trading hours on Friday, reaching $185.97. The stock had a trading volume of 978,301 shares, compared to its average volume of 1,232,581. The firm has a 50-day moving average of $198.82 and a 200-day moving average of $178.47. The firm has a market cap of $33.17 billion, a price-to-earnings ratio of 10.48 and a beta of 1.90. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. 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 posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share 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%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.10 earnings per share. Equities research analysts predict that Diamondback Energy, Inc. will post 19.13 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.94%. Diamondback Energy’s dividend payout ratio is presently 20.29%.

Insider Buying and Selling at Diamondback Energy

In other news, VP Jere W. Thompson III sold 2,675 shares of the 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 completion of the sale, the vice president now owns 8,485 shares in the company, valued at $1,632,089.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the completion of the transaction, the vice president now directly owns 8,485 shares in the company, valued at $1,632,089.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,575 shares of company stock worth $12,673,846. 0.48% of the stock is owned by company insiders.

About Diamondback Energy

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.