Peterson Wealth Services Boosts Position in Diamondback Energy, Inc. $FANG

Peterson Wealth Services raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 174.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,973 shares of the oil and natural gas company’s stock after buying an additional 15,229 shares during the quarter. Diamondback Energy comprises 0.9% of Peterson Wealth Services’ portfolio, making the stock its 28th largest holding. Peterson Wealth Services’ holdings in Diamondback Energy were worth $3,604,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FANG. Cresset Asset Management LLC grew its holdings in Diamondback Energy by 37.5% during the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after buying an additional 1,288 shares in the last quarter. Jump Financial LLC purchased a new position in Diamondback Energy during the 2nd quarter valued at about $2,301,000. Cerity Partners LLC grew its holdings in Diamondback Energy by 13.5% during the 2nd quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock valued at $7,022,000 after buying an additional 6,069 shares in the last quarter. AXA S.A. grew its holdings in Diamondback Energy by 8.5% during the 2nd quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock valued at $7,194,000 after buying an additional 4,103 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Diamondback Energy by 37.1% during the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after buying an additional 41,866 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Roth Mkm reaffirmed a “neutral” rating and set a $205.00 target price on shares of Diamondback Energy in a report on Tuesday, May 5th. Truist Financial set a $242.00 target price on Diamondback Energy in a report on Wednesday, May 6th. Susquehanna lifted their target price on Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a report on Wednesday, May 6th. Sanford C. Bernstein lifted their target price on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.63.

Insider Buying and Selling

In related news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. The trade was a 9.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven E. West sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total value of $1,130,100.00. Following the completion of the sale, the director owned 4,484 shares of the company’s stock, valued at $844,561.40. The trade was a 57.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,065 shares of company stock worth $10,551,236 over the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Down 2.5%

Shares of NASDAQ FANG opened at $191.59 on Friday. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $53.90 billion, a price-to-earnings ratio of 222.78 and a beta of 0.42. The business has a 50-day moving average of $195.67 and a 200-day moving average of $175.25.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the firm earned $4.54 earnings per share. Diamondback Energy’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy, Inc. will post 19.65 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. Diamondback Energy’s payout ratio is presently 511.63%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.