Parkside Investments LLC Has $799,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Parkside Investments LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 25.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,000 shares of the oil and natural gas company’s stock after purchasing an additional 1,000 shares during the quarter. Parkside Investments LLC’s holdings in Diamondback Energy were worth $799,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Barden Capital Management Inc. increased its holdings in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock valued at $718,000 after buying an additional 64 shares during the period. Buckhead Capital Management LLC raised its position in Diamondback Energy by 0.3% in the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock worth $3,249,000 after purchasing an additional 67 shares in the last quarter. Private Trust Co. NA lifted its stake in Diamondback Energy by 4.8% during the fourth quarter. Private Trust Co. NA now owns 1,516 shares of the oil and natural gas company’s stock worth $248,000 after purchasing an additional 69 shares during the period. Gladstone Institutional Advisory LLC boosted its holdings in Diamondback Energy by 1.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,923 shares of the oil and natural gas company’s stock valued at $643,000 after purchasing an additional 74 shares in the last quarter. Finally, JBR Co Financial Management Inc grew its stake in shares of Diamondback Energy by 4.1% in the 4th quarter. JBR Co Financial Management Inc now owns 2,023 shares of the oil and natural gas company’s stock valued at $331,000 after purchasing an additional 80 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $149.33 on Friday. The firm has a fifty day moving average of $136.28 and a two-hundred day moving average of $152.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market capitalization of $43.63 billion, a price-to-earnings ratio of 8.55, a PEG 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.

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

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.68%. Diamondback Energy’s dividend payout ratio is 24.46%.

Analysts Set New Price Targets

FANG has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Raymond James restated a “strong-buy” rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Truist Financial increased their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Mizuho dropped their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average 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.