Vise Technologies Inc. Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Vise Technologies Inc. lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 112.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,653 shares of the oil and natural gas company’s stock after acquiring an additional 1,931 shares during the quarter. Vise Technologies Inc.’s holdings in Diamondback Energy were worth $598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. increased its position in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Key Financial Inc increased its position in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the last quarter. Finally, Ancora Advisors LLC increased its position in Diamondback Energy by 182.9% in the fourth quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $135.86 on Monday. The firm has a market capitalization of $39.69 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The stock has a fifty day moving average of $139.96 and a 200 day moving average of $156.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion during 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 quarterly revenue was up 81.8% on a year-over-year basis. During the same quarter last year, the company earned $4.50 earnings per share. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.94%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio is 24.46%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president now owns 120,645 shares of the company’s stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank D. Tsuru purchased 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FANG has been the subject of a number of recent research reports. Truist Financial raised their target price on Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Royal Bank of Canada initiated coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an “outperform” rating and a $180.00 target price for the company. Citigroup raised Diamondback Energy from a “reduce” rating to a “buy” rating and raised their target price for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Barclays decreased their target price on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Bank of America raised their target price on Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $193.09.

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.