Williams Jones Wealth Management LLC. Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Williams Jones Wealth Management LLC. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 45.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,789 shares of the oil and natural gas company’s stock after purchasing an additional 3,350 shares during the period. Williams Jones Wealth Management LLC.’s holdings in Diamondback Energy were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. QRG Capital Management Inc. raised its holdings in shares of Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock worth $1,913,000 after buying an additional 3,238 shares during the period. Swedbank AB lifted its position in shares of Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after purchasing an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after purchasing an additional 37,246 shares during the period. Tectonic Advisors LLC grew its holdings in shares of Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after purchasing an additional 8,704 shares during the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of Diamondback Energy by 27.4% in the fourth quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company’s stock worth $3,447,000 after purchasing an additional 4,529 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Hof Matthew Kaes Van’t sold 10,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Citigroup upgraded Diamondback Energy from a “reduce” rating to a “buy” rating and raised their price objective for the stock from $157.00 to $180.00 in a report on Monday, April 7th. Royal Bank of Canada assumed coverage on Diamondback Energy in a report on Friday, May 2nd. They issued an “outperform” rating and a $180.00 target price for the company. Finally, Truist Financial upped their price target on Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $194.09.

Diamondback Energy Stock Performance

Shares of FANG opened at $138.35 on Wednesday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a market cap of $40.42 billion, a PE ratio of 7.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company’s 50 day simple moving average is $140.95 and its 200-day simple moving average is $157.48.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.50 earnings per share. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be issued a $1.00 dividend. The ex-dividend date is Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.89%. Diamondback Energy’s payout ratio is 24.46%.

About Diamondback Energy

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.