Tulsa Wealth Advisors INC Purchases Shares of 6,473 Diamondback Energy, Inc. $FANG

Tulsa Wealth Advisors INC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,473 shares of the oil and natural gas company’s stock, valued at approximately $973,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Diamondback Energy by 74.1% in the fourth quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company’s stock valued at $487,045,000 after buying an additional 1,379,010 shares in the last quarter. EnCap Energy Capital Fund XII L.P. acquired a new stake in Diamondback Energy in the fourth quarter valued at $169,342,000. Smead Capital Management Inc. acquired a new stake in Diamondback Energy in the second quarter valued at $144,775,000. Capital Research Global Investors lifted its stake in Diamondback Energy by 38.0% in the third quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock valued at $543,610,000 after acquiring an additional 1,046,398 shares during the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in shares of Diamondback Energy in the 4th quarter valued at about $112,198,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of several recent analyst reports. Freedom Capital upgraded shares of Diamondback Energy to a “strong-buy” rating in a research note on Tuesday, March 10th. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial set a $242.00 price target on Diamondback Energy in a report on Wednesday, May 6th. Sanford C. Bernstein boosted their price target on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Susquehanna upped their price objective on Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $223.63.

Diamondback Energy Stock Performance

FANG stock opened at $183.50 on Friday. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The stock has a market cap of $51.62 billion, a price-to-earnings ratio of 213.37 and a beta of 0.42. The company has a fifty day moving average price of $195.03 and a two-hundred day moving average price of $176.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.54 earnings per share. Equities analysts anticipate that Diamondback Energy, Inc. will post 19.92 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a $1.10 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.4%. Diamondback Energy’s dividend payout ratio (DPR) is currently 511.63%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the transaction, the director directly owned 851,530 shares of the company’s stock, valued at $159,338,293.60. This represents a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the sale, the executive vice president owned 51,392 shares of the company’s stock, valued at $10,283,539.20. This trade represents a 8.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 121,548 shares of company stock worth $23,146,460 in the last quarter. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.