Kercheville Advisors LLC Acquires Shares of 4,000 Diamondback Energy, Inc. $FANG

Kercheville Advisors LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 1st quarter, Holdings Channel reports. The institutional investor bought 4,000 shares of the oil and natural gas company’s stock, valued at approximately $791,000.

A number of other institutional investors have also recently modified their holdings of FANG. Flagship Harbor Advisors LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC bought a new position in Diamondback Energy in the 4th quarter worth about $26,000. Richardson Financial Services Inc. boosted its stake in Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in Diamondback Energy during the 3rd quarter valued at about $26,000. Finally, Wellington Shields & Co. LLC increased its stake in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 0.1%

Shares of Diamondback Energy stock opened at $187.91 on Wednesday. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $195.06 and its 200 day moving average is $177.23. The company has a market cap of $52.86 billion, a price-to-earnings ratio of 218.50 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.54 EPS. Research analysts anticipate that Diamondback Energy, Inc. will post 19.92 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 511.63%.

Analysts Set New Price Targets

FANG has been the topic of several analyst reports. Roth Mkm set a $212.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company set a $212.00 price objective on shares of Diamondback Energy in a report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. KeyCorp increased their target price on Diamondback Energy from $196.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Finally, Mizuho lifted their target price on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Five analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $221.37.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the sale, the director directly owned 851,530 shares in the company, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 121,548 shares of company stock worth $23,146,460 in the last ninety days. Insiders own 0.64% of the company’s stock.

Diamondback Energy Company 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.