Diamondback Energy, Inc. (NASDAQ:FANG) Position Increased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,766 shares of the oil and natural gas company’s stock after purchasing an additional 6,764 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Diamondback Energy were worth $9,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in FANG. Demars Financial Group LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at $638,050,000. Alyeska Investment Group L.P. bought a new stake in Diamondback Energy in the 4th quarter valued at approximately $185,193,000. Price T Rowe Associates Inc. MD raised its stake in shares of Diamondback Energy by 11.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after purchasing an additional 928,429 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company’s stock worth $96,827,000 after acquiring an additional 601,909 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Diamondback Energy by 33,693.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 457,908 shares of the oil and natural gas company’s stock worth $75,019,000 after acquiring an additional 456,553 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’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 sale, the president owned 120,645 shares of the company’s stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of recent analyst reports. Barclays decreased their price target on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Mizuho cut their price objective on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Evercore ISI assumed coverage on Diamondback Energy in a research note on Tuesday, May 6th. They issued an “outperform” rating and a $165.00 target price on the stock. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $191.55.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $140.93 on Friday. The company’s fifty day moving average is $141.61 and its two-hundred day moving average is $149.04. The firm has a market capitalization of $41.18 billion, a price-to-earnings ratio of 8.62 and a beta of 1.05. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $212.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.58 billion. During the same period last year, the firm posted $4.50 EPS. The firm’s quarterly revenue was up 81.8% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

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

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.