NorthRock Partners LLC Buys 274 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

NorthRock Partners LLC raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 16.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,952 shares of the oil and natural gas company’s stock after acquiring an additional 274 shares during the quarter. NorthRock Partners LLC’s holdings in Diamondback Energy were worth $320,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FANG. Demars Financial Group LLC bought a new position in Diamondback Energy during the fourth quarter valued at about $638,050,000. Raymond James Financial Inc. bought a new position in Diamondback Energy during the fourth quarter valued at about $298,327,000. Alyeska Investment Group L.P. bought a new position in Diamondback Energy during the fourth quarter valued at about $185,193,000. Price T Rowe Associates Inc. MD raised its holdings in Diamondback Energy by 11.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock valued at $1,496,859,000 after buying an additional 928,429 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in Diamondback Energy by 30.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after buying an additional 658,644 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent research reports. JPMorgan Chase & Co. cut 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. Piper Sandler cut their price objective on Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Citigroup raised Diamondback Energy from a “reduce” rating to a “buy” rating and boosted their price objective for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Barclays cut their price objective on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Evercore ISI began coverage on Diamondback Energy in a research report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $194.09.

Diamondback Energy Trading Down 0.6%

FANG stock opened at $141.13 on Friday. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The firm has a market cap of $41.23 billion, a P/E ratio of 8.08, a P/E/G ratio of 1.24 and a beta of 1.06. The business’s 50 day moving average is $141.25 and its 200-day moving average is $158.00. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the company posted $4.50 EPS. The company’s revenue was up 81.8% compared to the same quarter last year. Equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a $1.00 dividend. The ex-dividend date is Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.83%. Diamondback Energy’s dividend payout ratio is currently 24.46%.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’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 completion of the transaction, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Diamondback Energy 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.