Mayfair Advisory Group LLC Purchases 436 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Mayfair Advisory Group LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 21.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,508 shares of the oil and natural gas company’s stock after buying an additional 436 shares during the quarter. Mayfair Advisory Group LLC’s holdings in Diamondback Energy were worth $401,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wintrust Investments LLC bought a new position in Diamondback Energy in the 4th quarter valued at about $28,000. Grove Bank & Trust grew its holdings in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 80 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $33,000. Key Financial Inc grew its holdings in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $38,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FANG shares. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a report on Wednesday, March 5th. Scotiabank decreased their price target on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Diamondback Energy in a report on Thursday, May 22nd. KeyCorp decreased their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Susquehanna decreased their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and an average target price of $193.13.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president now directly owns 120,645 shares of the company’s stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 1.3%

Shares of NASDAQ FANG opened at $152.93 on Wednesday. The company has a market capitalization of $44.68 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of 1.37 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 company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The company’s 50 day moving average price is $137.99 and its 200-day moving average price is $152.15.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly 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 the consensus estimate of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company’s revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.50 EPS. Equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share 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 $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.62%. Diamondback Energy’s dividend payout ratio (DPR) is currently 24.46%.

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.