Simplicity Solutions LLC Buys 75 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Simplicity Solutions LLC lifted 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 institutional investor owned 3,115 shares of the oil and natural gas company’s stock after purchasing an additional 75 shares during the quarter. Simplicity Solutions LLC’s holdings in Diamondback Energy were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. BKM Wealth Management LLC bought a new position in Diamondback Energy in the 4th quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new position in Diamondback Energy in the 3rd quarter valued at approximately $28,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Diamondback Energy in the 3rd quarter valued at approximately $32,000. FinTrust Capital Advisors LLC lifted its position in Diamondback Energy by 232.8% in the 4th quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Diamondback Energy in the 4th quarter valued at approximately $34,000. 90.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,675 shares of company stock worth $11,311,096. Corporate insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Evercore ISI upped their price objective on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Stifel Nicolaus upped their price objective on Diamondback Energy from $192.00 to $224.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets upped their price objective 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) lowered their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. Finally, Piper Sandler increased their price target on Diamondback Energy from $222.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.95.

Diamondback Energy Trading Down 0.8 %

NASDAQ:FANG opened at $199.60 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The firm has a market capitalization of $35.60 billion, a price-to-earnings ratio of 11.51 and a beta of 1.93. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96. The business has a fifty day moving average price of $188.92 and a 200-day moving average price of $167.21.

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

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date was Monday, March 4th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is presently 20.76%.

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.