Foundations Investment Advisors LLC Purchases 665 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Foundations Investment Advisors LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.5% during the first quarter, Holdings Channel reports. The institutional investor owned 5,608 shares of the oil and natural gas company’s stock after buying an additional 665 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Diamondback Energy were worth $897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FANG. Investor s Fiduciary Advisor Network LLC boosted its stake in Diamondback Energy by 2.1% in the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock valued at $569,000 after acquiring an additional 74 shares during the last quarter. FourThought Financial Partners LLC boosted its stake in Diamondback Energy by 2.9% in the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after acquiring an additional 78 shares during the last quarter. Grove Bank & Trust boosted its stake in Diamondback Energy by 65.0% in 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 during the last quarter. Rehmann Capital Advisory Group boosted its stake in Diamondback Energy by 6.0% in 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 during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its stake in Diamondback Energy by 60.9% in the first quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company’s stock valued at $35,000 after acquiring an additional 84 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Piper Sandler raised their price objective on shares of Diamondback Energy from $225.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. KeyCorp reduced their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Raymond James Financial raised their price objective on shares of Diamondback Energy from $204.00 to $221.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 22nd. Finally, Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a report on Friday, July 11th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and an average target price of $191.59.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $151.00 on Thursday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $203.98. The company has a market cap of $44.12 billion, a P/E ratio of 9.24 and a beta of 1.05. The firm’s fifty day moving average price is $142.45 and its two-hundred day moving average price is $147.57. 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 released its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 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 for the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the company earned $4.50 earnings per share. The company’s quarterly revenue was up 81.8% on a year-over-year basis. Equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced 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 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 payout ratio is presently 24.46%.

Insider Activity

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the president owned 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

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.