Goehring & Rozencwajg Associates LLC Buys 15,411 Shares of Diamondback Energy, Inc. $FANG

Goehring & Rozencwajg Associates LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 22.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,243 shares of the oil and natural gas company’s stock after purchasing an additional 15,411 shares during the period. Diamondback Energy makes up approximately 1.2% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 28th biggest position. Goehring & Rozencwajg Associates LLC’s holdings in Diamondback Energy were worth $12,815,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new stake in Diamondback Energy in the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy in the 4th quarter valued at $26,000. Richardson Financial Services Inc. boosted its holdings in Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 125 shares during the period. JPL Wealth Management LLC bought a new stake in Diamondback Energy in the 3rd quarter valued at $26,000. Finally, Wellington Shields & Co. LLC boosted its holdings in Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares during the period. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of research reports. Scotiabank increased their price target on shares of Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $202.00 to $262.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Mizuho raised their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Freedom Capital raised shares of Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Citigroup raised their price objective on shares of Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.63.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $192.13 on Friday. The company has a 50-day moving average of $195.70 and a 200-day moving average of $175.36. The company has a market capitalization of $54.05 billion, a price-to-earnings ratio of 223.41 and a beta of 0.42. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $1.10 per share. 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 dividend yield of 2.3%. Diamondback Energy’s dividend payout ratio is 511.63%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 7,857 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $189.20, for a total transaction of $1,486,544.40. Following the completion of the sale, the director owned 942,721 shares in the company, valued at $178,362,813.20. This trade represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,065 shares of company stock worth $10,551,236 over the last ninety days. Company insiders own 0.64% of the company’s stock.

About Diamondback Energy

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.