Dorsey & Whitney Trust CO LLC Acquires 187 Shares of Diamondback Energy, Inc. $FANG

Dorsey & Whitney Trust CO LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,588 shares of the oil and natural gas company’s stock after purchasing an additional 187 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Diamondback Energy were worth $254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FANG. BankPlus Trust Department bought a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $27,000. Pinnacle Bancorp Inc. lifted its holdings in shares of Diamondback Energy by 95.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock worth $29,000 after acquiring an additional 88 shares during the period. SouthState Corp lifted its holdings in shares of Diamondback Energy by 596.4% during the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 167 shares during the period. Fourth Dimension Wealth LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co lifted its holdings in shares of Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after acquiring an additional 109 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG stock opened at $143.28 on Friday. The company has a 50 day simple moving average of $142.79 and a 200 day simple moving average of $143.80. The stock has a market cap of $41.48 billion, a price-to-earnings ratio of 10.18 and a beta of 1.09. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the company earned $4.52 earnings per share. Diamondback Energy’s revenue for the quarter was up 48.1% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FANG. Raymond James Financial cut their price target on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a report on Wednesday. Melius Research began coverage on shares of Diamondback Energy in a report on Wednesday. They set a “buy” rating and a $213.00 price target for the company. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $210.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Mizuho cut their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, Morgan Stanley upped their price target on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $193.33.

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.