Tyche Wealth Partners LLC Purchases 241 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Tyche Wealth Partners LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,280 shares of the oil and natural gas company’s stock after purchasing an additional 241 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Diamondback Energy were worth $1,004,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Barden Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares during the period. Private Trust Co. NA increased its stake in shares of 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 valued at $248,000 after purchasing an additional 69 shares in the last quarter. Grove Bank & Trust increased its position in shares of Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 80 shares in the last quarter. Abbot Financial Management Inc. increased its position in shares of Diamondback Energy by 2.0% during the fourth quarter. Abbot Financial Management Inc. now owns 4,051 shares of the oil and natural gas company’s stock valued at $664,000 after acquiring an additional 81 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its position in shares of Diamondback Energy by 6.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company’s stock valued at $236,000 after acquiring an additional 82 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the company’s 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 1.3%

NASDAQ FANG opened at $139.35 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company has a 50-day simple moving average of $139.69 and a 200-day simple moving average of $151.21. The firm has a market capitalization of $40.71 billion, a PE ratio of 8.52 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, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the prior year, the firm earned $4.50 EPS. Diamondback Energy’s quarterly revenue was up 81.8% on a year-over-year basis. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors 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 annualized dividend and a dividend yield of 2.87%. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Analyst Ratings Changes

Several research analysts have recently weighed in on FANG shares. Barclays dropped their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley reduced their price target on shares of Diamondback Energy from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Royal Bank Of Canada began coverage on Diamondback Energy in a report on Friday, May 2nd. They issued an “outperform” rating and a $180.00 target price on the stock. Truist Financial boosted their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Finally, Bank of America boosted their price objective on Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.