EULAV Asset Management Purchases 10,000 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

EULAV Asset Management lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 17.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 67,000 shares of the oil and natural gas company’s stock after acquiring an additional 10,000 shares during the quarter. EULAV Asset Management’s holdings in Diamondback Energy were worth $10,712,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its position in Diamondback Energy by 4.8% during the first quarter. Crossmark Global Holdings Inc. now owns 5,123 shares of the oil and natural gas company’s stock worth $819,000 after purchasing an additional 236 shares during the period. Fullcircle Wealth LLC purchased a new stake in Diamondback Energy during the 1st quarter worth about $368,000. U.S. Capital Wealth Advisors LLC lifted its holdings in Diamondback Energy by 2.8% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 4,491 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 124 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Diamondback Energy by 52.4% in the 1st quarter. Raleigh Capital Management Inc. now owns 2,485 shares of the oil and natural gas company’s stock worth $397,000 after purchasing an additional 854 shares during the period. Finally, TD Private Client Wealth LLC purchased a new position in Diamondback Energy during the 1st quarter valued at about $1,076,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FANG. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Evercore ISI started coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They issued an “outperform” rating and a $165.00 target price on the stock. Bank of America boosted their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Morgan Stanley dropped their price objective on shares of Diamondback Energy from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Finally, Piper Sandler reduced their target price on Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and an average price target of $193.13.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $140.75 on Monday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The firm has a market capitalization of $41.12 billion, a P/E ratio of 8.61 and a beta of 1.05. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $140.42 and a two-hundred day simple moving average of $149.97.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion during 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 business’s revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.50 earnings per share. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.84%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is 24.46%.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction that occurred 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 owned 120,645 shares of the company’s stock, valued at $17,214,835.05. This trade 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 is available at the SEC website. Company insiders own 0.48% of the company’s stock.

About Diamondback Energy

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.