Koshinski Asset Management Inc. Purchases New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Koshinski Asset Management Inc. purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,488 shares of the oil and natural gas company’s stock, valued at approximately $386,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BKM Wealth Management LLC purchased a new stake in Diamondback Energy during the 4th quarter worth approximately $27,000. BluePath Capital Management LLC purchased a new stake in Diamondback Energy during the 3rd quarter worth approximately $28,000. FinTrust Capital Advisors LLC increased its stake in Diamondback Energy by 232.8% during the 4th quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Carolinas Wealth Consulting LLC increased its stake in Diamondback Energy by 366.7% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 176 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in Diamondback Energy during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on FANG shares. Barclays started coverage on Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective for the company. BMO Capital Markets upped their price target on Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research report on Tuesday, February 13th. Bank Of America (Bofa) dropped their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research report on Thursday, January 18th. Stifel Nicolaus upped their price target on Diamondback Energy from $192.00 to $224.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Bank of America upgraded Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price target for the company from $129.00 to $170.00 in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $196.05.

Diamondback Energy Trading Down 0.9 %

FANG opened at $206.34 on Monday. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96. The stock has a market capitalization of $36.80 billion, a PE ratio of 11.90 and a beta of 1.93. The business’s 50 day moving average price is $184.85 and its 200 day moving average price is $166.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm posted $5.29 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 18.47 EPS for the current year.

Diamondback Energy Increases Dividend

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

Insiders Place Their Bets

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the completion of the sale, the executive vice president now owns 44,445 shares in the company, valued at $8,619,663.30. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock worth $11,311,096 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

About Diamondback Energy

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.