One Plus One Wealth Management LLC Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

One Plus One Wealth Management LLC raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,697 shares of the oil and natural gas company’s stock after purchasing an additional 346 shares during the quarter. One Plus One Wealth Management LLC’s holdings in Diamondback Energy were worth $751,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy in the 4th quarter worth about $28,000. Fourth Dimension Wealth LLC bought a new stake in Diamondback Energy in the fourth quarter valued at about $33,000. Key Financial Inc raised its stake in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares in the last quarter. Ancora Advisors LLC raised its stake in Diamondback Energy by 182.9% during the fourth quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Finally, Transce3nd LLC bought a new position in Diamondback Energy during the 4th quarter worth approximately $38,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’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 transaction, the president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 2.3%

FANG stock opened at $140.56 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The firm’s 50-day simple moving average is $135.58 and its 200 day simple moving average is $153.60. The stock has a market cap of $41.07 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

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 the consensus estimate of $3.67 by $0.87. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s quarterly revenue was up 81.8% on a year-over-year basis. During the same quarter last year, the company earned $4.50 EPS. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.85%. Diamondback Energy’s payout ratio is 24.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler dropped their price target on Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley lowered their target price on shares of Diamondback Energy from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. UBS Group reduced their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Susquehanna reduced their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $193.09.

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.