9,670 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,670 shares of the oil and natural gas company’s stock, valued at approximately $1,584,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its stake in Diamondback Energy by 4.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,608 shares of the oil and natural gas company’s stock valued at $2,863,000 after acquiring an additional 637 shares in the last quarter. Czech National Bank lifted its stake in Diamondback Energy by 6.2% in the 4th quarter. Czech National Bank now owns 40,518 shares of the oil and natural gas company’s stock worth $6,638,000 after purchasing an additional 2,352 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Diamondback Energy by 15.7% in the 4th quarter. Rosenberg Matthew Hamilton now owns 746 shares of the oil and natural gas company’s stock valued at $122,000 after purchasing an additional 101 shares during the period. Mayfair Advisory Group LLC grew its position in shares of Diamondback Energy by 10.9% during the 4th quarter. Mayfair Advisory Group LLC now owns 2,072 shares of the oil and natural gas company’s stock valued at $339,000 after purchasing an additional 204 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in shares of Diamondback Energy by 8.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,172 shares of the oil and natural gas company’s stock worth $356,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president now directly owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62% increase in their position. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of FANG opened at $144.82 on Thursday. The company has a 50-day simple moving average of $141.29 and a two-hundred day simple moving average of $158.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $42.31 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue was up 81.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.50 earnings per share. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be paid a $1.00 dividend. The ex-dividend date is Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.76%. Diamondback Energy’s payout ratio is 24.46%.

Analyst Ratings Changes

Several research firms recently issued reports on FANG. Mizuho dropped their price objective on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a research note on Tuesday. Royal Bank of Canada assumed coverage on Diamondback Energy in a research report on Friday, May 2nd. They set an “outperform” rating and a $180.00 price target for the company. Morgan Stanley reissued an “overweight” rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Wells Fargo & Company lowered their target price on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Barclays dropped their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $194.09.

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.