Harvey Capital Management Inc. Purchases New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Harvey Capital Management Inc. purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,900 shares of the oil and natural gas company’s stock, valued at approximately $260,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wetherby Asset Management Inc. increased its position in shares of Diamondback Energy by 1.4% during the fourth quarter. Wetherby Asset Management Inc. now owns 5,774 shares of the oil and natural gas company’s stock valued at $622,000 after acquiring an additional 77 shares in the last quarter. Heartland Bank & Trust Co increased its position in shares of Diamondback Energy by 1.9% during the fourth quarter. Heartland Bank & Trust Co now owns 4,131 shares of the oil and natural gas company’s stock valued at $446,000 after acquiring an additional 78 shares in the last quarter. Mackay Shields LLC increased its position in shares of Diamondback Energy by 0.3% during the fourth quarter. Mackay Shields LLC now owns 25,609 shares of the oil and natural gas company’s stock valued at $2,762,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of Diamondback Energy by 0.6% during the fourth quarter. Toth Financial Advisory Corp now owns 14,455 shares of the oil and natural gas company’s stock valued at $1,559,000 after acquiring an additional 80 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its holdings in Diamondback Energy by 2.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,697 shares of the oil and natural gas company’s stock worth $507,000 after purchasing an additional 83 shares during the last quarter. 89.97% of the stock is owned by institutional investors.

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,500 shares of Diamondback Energy stock in a transaction on Friday, May 27th. The shares were sold at an average price of $152.22, for a total value of $380,550.00. Following the sale, the chief accounting officer now directly owns 57,308 shares in the company, valued at approximately $8,723,423.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 6,000 shares of Diamondback Energy stock in a transaction on Friday, May 27th. The shares were sold at an average price of $150.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief financial officer now owns 67,334 shares in the company, valued at $10,100,100. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,500 shares of company stock worth $6,740,850. 0.42% of the stock is currently owned by insiders.

FANG opened at $121.21 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.69 and a current ratio of 0.72. Diamondback Energy, Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $162.24. The firm’s fifty day moving average is $136.40 and its 200 day moving average is $131.49. The stock has a market cap of $21.51 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 0.21 and a beta of 2.20.

Diamondback Energy (NASDAQ:FANGGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.46. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $1.93 billion. Diamondback Energy had a net margin of 34.17% and a return on equity of 19.91%. During the same period in the previous year, the firm posted $2.30 EPS. On average, equities research analysts predict that Diamondback Energy, Inc. will post 26.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 23rd. Shareholders of record on Thursday, May 12th were issued a $0.70 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, May 11th. Diamondback Energy’s payout ratio is currently 18.46%.

Several equities research analysts recently issued reports on FANG shares. The Goldman Sachs Group dropped their target price on shares of Diamondback Energy from $180.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler raised their target price on shares of Diamondback Energy from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, June 10th. Susquehanna Bancshares raised their target price on shares of Diamondback Energy from $152.00 to $167.00 and gave the stock a “positive” rating in a report on Monday, April 25th. Bank of America cut shares of Diamondback Energy from a “buy” rating to a “neutral” rating and raised their target price for the stock from $165.00 to $170.00 in a report on Tuesday, March 8th. Finally, Raymond James raised their target price on shares of Diamondback Energy from $195.00 to $200.00 and gave the stock a “strong-buy” rating in a report on Monday, April 25th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $168.39.

Diamondback Energy Profile (Get Rating)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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