Voloridge Investment Management LLC Buys 111,140 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Voloridge Investment Management LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 131.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,550 shares of the oil and natural gas company’s stock after acquiring an additional 111,140 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.07% of Diamondback Energy worth $32,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. Magnolia Capital Advisors LLC increased its stake in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 shares in the last quarter. Barden Capital Management Inc. boosted its holdings in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after buying an additional 64 shares during the period. Greenleaf Trust increased its stake in Diamondback Energy by 1.0% in the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after buying an additional 66 shares in the last quarter. Buckhead Capital Management LLC raised its holdings in Diamondback Energy by 0.3% during the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after acquiring an additional 67 shares during the period. Finally, Center For Asset Management LLC lifted its position in shares of Diamondback Energy by 3.6% in the fourth quarter. Center For Asset Management LLC now owns 1,976 shares of the oil and natural gas company’s stock valued at $324,000 after acquiring an additional 68 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Morgan Stanley reiterated an “overweight” rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Barclays lowered their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Truist Financial raised their target price 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. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $194.09.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was 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 directly owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank D. Tsuru acquired 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 1.5%

Shares of FANG stock opened at $136.31 on Thursday. The company has a market cap of $39.83 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The stock’s 50 day simple moving average is $140.68 and its two-hundred day simple moving average is $157.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $4.50 EPS. Research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders 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 annualized dividend and a dividend yield of 2.93%. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Diamondback Energy Company 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.