Dynamic Advisor Solutions LLC Acquires 494 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Dynamic Advisor Solutions LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,030 shares of the oil and natural gas company’s stock after acquiring an additional 494 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Diamondback Energy were worth $644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wintrust Investments LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth approximately $28,000. Fourth Dimension Wealth LLC purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $33,000. Key Financial Inc boosted its holdings in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the period. Transce3nd LLC bought a new position in Diamondback Energy in the 4th quarter worth $38,000. Finally, Ancora Advisors LLC raised its holdings in Diamondback Energy by 182.9% during the fourth quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 2.7%

Shares of FANG opened at $148.78 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The company has a market cap of $43.47 billion, a PE ratio of 9.10, a P/E/G ratio of 1.39 and a beta of 1.06. The business has a fifty day moving average of $138.27 and a 200 day moving average of $152.13.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.50 EPS. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.69%. Diamondback Energy’s dividend payout ratio is 24.46%.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the president now owns 120,645 shares of the company’s stock, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. UBS Group dropped their price target on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Raymond James Financial reiterated a “strong-buy” rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. KeyCorp dropped their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Finally, Bank of America raised their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $193.13.

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.