CX Institutional Buys Shares of 3,139 Diamondback Energy, Inc. (NASDAQ:FANG)

CX Institutional acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, according to its most recent filing with the SEC. The fund acquired 3,139 shares of the oil and natural gas company’s stock, valued at approximately $502,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. raised its stake in shares of Diamondback Energy by 38.4% during the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after purchasing an additional 3,238 shares during the period. Candriam S.C.A. raised its stake in shares of Diamondback Energy by 27.4% during the 4th quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company’s stock valued at $3,447,000 after purchasing an additional 4,529 shares during the period. SevenBridge Financial Group LLC raised its stake in shares of Diamondback Energy by 10.8% during the 4th quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company’s stock valued at $3,303,000 after purchasing an additional 1,990 shares during the period. Tower Bridge Advisors raised its stake in shares of Diamondback Energy by 27.4% during the 4th quarter. Tower Bridge Advisors now owns 8,828 shares of the oil and natural gas company’s stock valued at $1,446,000 after purchasing an additional 1,898 shares during the period. Finally, Boothe Investment Group Inc. raised its stake in shares of Diamondback Energy by 33.3% during the 4th quarter. Boothe Investment Group Inc. now owns 20,097 shares of the oil and natural gas company’s stock valued at $3,292,000 after purchasing an additional 5,022 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FANG has been the topic of a number of analyst reports. UBS Group decreased their price objective on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Citigroup upgraded Diamondback Energy from a “reduce” rating to a “buy” rating and boosted their target price for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Evercore ISI initiated coverage on Diamondback Energy in a research report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 target price for the company. Mizuho reduced their target price on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Finally, Barclays reduced their target price on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Buy” and a consensus price target of $193.09.

Diamondback Energy Price Performance

FANG opened at $154.91 on Friday. 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 stock has a 50-day moving average price of $136.99 and a 200-day moving average price of $152.66. The stock has a market capitalization of $45.26 billion, a P/E ratio of 8.87, a PEG 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 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the previous year, the company posted $4.50 EPS. Diamondback Energy’s revenue for the quarter was up 81.8% on a year-over-year basis. Equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Insider Activity

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of the company’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 transaction, the president now owns 120,645 shares of the company’s stock, valued at $17,214,835.05. This represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy 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.