Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,018 shares of the oil and natural gas company’s stock after acquiring an additional 1,504 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Diamondback Energy were worth $4,639,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Demars Financial Group LLC acquired a new stake in Diamondback Energy during the 4th quarter valued at $638,050,000. Raymond James Financial Inc. acquired a new stake in shares of Diamondback Energy in the fourth quarter worth approximately $298,327,000. Alyeska Investment Group L.P. acquired a new position in Diamondback Energy during the fourth quarter worth approximately $185,193,000. Price T Rowe Associates Inc. MD raised its stake in Diamondback Energy by 11.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 30.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after purchasing an additional 658,644 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FANG shares. Susquehanna cut their target price on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Bank of America increased their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Morgan Stanley cut their target price on shares of Diamondback Energy from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Truist Financial increased their price target on Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Buy” and an average target price of $193.09.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $148.92 on Thursday. The firm’s 50 day moving average is $135.78 and its two-hundred day moving average is $153.01. The firm has a market capitalization of $43.51 billion, a P/E ratio of 8.52, a PEG ratio of 1.24 and a beta of 1.06. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

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

Diamondback Energy Announces Dividend

The company also recently announced 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. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.69%. Diamondback Energy’s dividend payout ratio is currently 24.46%.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by corporate insiders.

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.