Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,115 shares of the oil and natural gas company’s stock after purchasing an additional 75 shares during the quarter. Bleakley Financial Group LLC’s holdings in Diamondback Energy were worth $483,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its holdings in shares of Diamondback Energy by 11.4% in the 4th quarter. Meeder Asset Management Inc. now owns 48,311 shares of the oil and natural gas company’s stock valued at $7,492,000 after purchasing an additional 4,946 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Diamondback Energy by 6.3% during the 4th quarter. Meeder Advisory Services Inc. now owns 2,540 shares of the oil and natural gas company’s stock valued at $394,000 after acquiring an additional 150 shares in the last quarter. Americana Partners LLC lifted its holdings in shares of Diamondback Energy by 51.9% during the 4th quarter. Americana Partners LLC now owns 2,738 shares of the oil and natural gas company’s stock valued at $425,000 after acquiring an additional 936 shares in the last quarter. Pinkerton Retirement Specialists LLC acquired a new position in shares of Diamondback Energy during the 4th quarter valued at $339,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Diamondback Energy by 2.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 53,014 shares of the oil and natural gas company’s stock valued at $8,221,000 after acquiring an additional 1,327 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank Of America (Bofa) reduced their target price on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. KeyCorp boosted their price objective on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. UBS Group boosted their price objective on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Truist Financial cut their price objective on shares of Diamondback Energy from $250.00 to $248.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, BMO Capital Markets boosted their price objective on shares of Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.05.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock valued at $11,311,096 in the last quarter. Insiders own 0.43% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $206.34 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The firm has a 50-day simple moving average of $184.85 and a 200 day simple moving average of $166.00. The company has a market cap of $36.80 billion, a PE ratio of 11.90 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $5.29 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.52 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were given a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date was Monday, March 4th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is currently 20.76%.

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.