BankPlus Trust Department Invests $27,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

BankPlus Trust Department bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 168 shares of the oil and natural gas company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in Diamondback Energy by 4.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock valued at $5,784,000 after purchasing an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Diamondback Energy by 6.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock valued at $9,409,000 after purchasing an additional 3,467 shares in the last quarter. SevenBridge Financial Group LLC raised its stake in Diamondback Energy by 10.8% in the fourth 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 in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Diamondback Energy by 50.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock valued at $1,143,000 after purchasing an additional 2,397 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in Diamondback Energy by 49.7% in the fourth quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company’s stock valued at $1,608,000 after purchasing an additional 3,261 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In related 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 value of $1,426,900.00. Following the sale, the president directly owned 120,645 shares in the company, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on FANG. Susquehanna dropped their price target on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. KeyCorp dropped their price target on Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Barclays dropped their price target on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Piper Sandler dropped their price target on Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada assumed coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an “outperform” rating and a $180.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average target price of $193.35.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $144.33 on Friday. The stock has a market cap of $42.17 billion, a P/E ratio of 8.83 and a beta of 1.05. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average is $141.09 and its 200-day moving average is $149.52. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced 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. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the prior year, the business posted $4.50 earnings per share. The firm’s revenue was up 81.8% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.77%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s payout ratio 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.