L. Roy Papp & Associates LLP Has $573,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

L. Roy Papp & Associates LLP raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,587 shares of the oil and natural gas company’s stock after purchasing an additional 260 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Diamondback Energy were worth $573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its position in Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after buying an additional 3,238 shares in the last quarter. Tectonic Advisors LLC boosted its position in Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after buying an additional 8,704 shares in the last quarter. Candriam S.C.A. boosted its position in Diamondback Energy by 27.4% in the fourth quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company’s stock valued at $3,447,000 after buying an additional 4,529 shares in the last quarter. SevenBridge Financial Group LLC boosted its position 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 buying an additional 1,990 shares in the last quarter. Finally, Tower Bridge Advisors boosted its position in Diamondback Energy by 27.4% in the fourth quarter. Tower Bridge Advisors now owns 8,828 shares of the oil and natural gas company’s stock valued at $1,446,000 after buying an additional 1,898 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy 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 shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the completion of the sale, the president now owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Diamondback Energy Trading Down 2.1%

FANG opened at $139.35 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a market cap of $40.71 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The firm has a 50 day simple moving average of $136.43 and a 200 day simple moving average of $154.37. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued 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 net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the firm earned $4.50 earnings per share. The business’s quarterly revenue was up 81.8% on a year-over-year basis. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.87%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s payout ratio is presently 24.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FANG. JPMorgan Chase & Co. reduced their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Mizuho reduced their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Raymond James reiterated a “strong-buy” rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Scotiabank reduced their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Finally, Truist Financial upped their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $193.09.

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.