Demars Financial Group LLC Raises Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Demars Financial Group LLC boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,102,785 shares of the oil and natural gas company’s stock after purchasing an additional 208,200 shares during the period. Diamondback Energy comprises 2.1% of Demars Financial Group LLC’s holdings, making the stock its 8th biggest holding. Demars Financial Group LLC’s holdings in Diamondback Energy were worth $655,953,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its stake in Diamondback Energy by 9.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 73,309 shares of the oil and natural gas company’s stock worth $11,608,000 after acquiring an additional 6,508 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Diamondback Energy by 24.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,375 shares of the oil and natural gas company’s stock worth $389,000 after acquiring an additional 474 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in Diamondback Energy by 2.3% in the 4th quarter. New Mexico Educational Retirement Board now owns 8,900 shares of the oil and natural gas company’s stock worth $1,458,000 after acquiring an additional 200 shares in the last quarter. Rhumbline Advisers grew its stake in Diamondback Energy by 1.8% in the 4th quarter. Rhumbline Advisers now owns 341,231 shares of the oil and natural gas company’s stock worth $55,904,000 after acquiring an additional 5,882 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in Diamondback Energy by 10.8% in the 4th quarter. Principal Securities Inc. now owns 5,530 shares of the oil and natural gas company’s stock worth $906,000 after acquiring an additional 540 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Down 2.5%

NASDAQ:FANG opened at $151.03 on Tuesday. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The firm has a 50 day moving average of $137.63 and a 200 day moving average of $152.15. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $44.13 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 1.24 and a beta of 1.06.

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

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.65%. Diamondback Energy’s dividend payout ratio is currently 24.46%.

Insiders Place Their Bets

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the president now owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the topic of a number of research analyst reports. UBS Group dropped their target price on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Susquehanna dropped their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Scotiabank dropped their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company upped their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Morgan Stanley dropped their price objective 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. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $193.13.

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.