Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Lifted by Moran Wealth Management LLC

Moran Wealth Management LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,230 shares of the oil and natural gas company’s stock after purchasing an additional 3,188 shares during the quarter. Moran Wealth Management LLC’s holdings in Diamondback Energy were worth $4,673,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Balboa Wealth Partners raised its stake in shares of Diamondback Energy by 12.8% during the first quarter. Balboa Wealth Partners now owns 1,786 shares of the oil and natural gas company’s stock valued at $286,000 after purchasing an additional 202 shares in the last quarter. Sava Infond d.o.o. raised its position in shares of Diamondback Energy by 27.8% during the 1st quarter. Sava Infond d.o.o. now owns 2,300 shares of the oil and natural gas company’s stock worth $368,000 after buying an additional 500 shares in the last quarter. Keystone Financial Services acquired a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $214,000. Spirepoint Private Client LLC lifted its stake in shares of Diamondback Energy by 3.4% in the 1st quarter. Spirepoint Private Client LLC now owns 34,877 shares of the oil and natural gas company’s stock worth $5,576,000 after acquiring an additional 1,145 shares during the period. Finally, Legacy Advisors LLC boosted its holdings in shares of Diamondback Energy by 7.8% in the first quarter. Legacy Advisors LLC now owns 1,692 shares of the oil and natural gas company’s stock valued at $271,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $138.04 on Thursday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The stock has a market cap of $40.33 billion, a PE ratio of 8.44 and a beta of 1.06. The business has a fifty day simple moving average of $139.85 and a 200-day simple moving average of $151.12.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same period last year, the company posted $4.50 EPS. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy’s payout ratio is presently 24.46%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FANG. Morgan Stanley dropped their target price on Diamondback Energy from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Truist Financial boosted their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Williams Trading set a $190.00 price objective on Diamondback Energy in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Finally, Scotiabank dropped their price target on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Two 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 stock. According to MarketBeat, Diamondback Energy presently has an average rating of “Buy” and an average target price of $193.13.

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.