Valley National Advisers Inc. Grows Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Valley National Advisers Inc. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 25.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 721 shares of the oil and natural gas company’s stock after buying an additional 144 shares during the period. Valley National Advisers Inc.’s holdings in Diamondback Energy were worth $142,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FANG. Vanguard Group Inc. boosted its stake in shares of Diamondback Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after buying an additional 176,208 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after purchasing an additional 648,317 shares during the period. Morgan Stanley increased its holdings in shares of Diamondback Energy by 2.6% in the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock valued at $541,175,000 after purchasing an additional 89,663 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Diamondback Energy by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,213,631 shares of the oil and natural gas company’s stock valued at $343,296,000 after purchasing an additional 188,590 shares during the period. Finally, Yacktman Asset Management LP boosted its holdings in Diamondback Energy by 4.5% during the fourth quarter. Yacktman Asset Management LP now owns 1,520,447 shares of the oil and natural gas company’s stock worth $235,791,000 after buying an additional 65,524 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 1.0 %

Shares of NASDAQ FANG traded up $2.03 during trading on Wednesday, hitting $206.93. 741,138 shares of the company traded hands, compared to its average volume of 1,634,729. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $36.90 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.09 and a beta of 1.90. The company has a 50-day moving average price of $196.80 and a 200-day moving average price of $182.45. Diamondback Energy, Inc. has a 1 year low of $125.73 and a 1 year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping the consensus estimate of $4.29 by $0.21. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm’s revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.10 earnings per share. On average, equities analysts predict that Diamondback Energy, Inc. will post 19.06 EPS for the current year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.74%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FANG shares. Susquehanna lifted their price target on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Mizuho lifted their target price on shares of Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Evercore ISI increased their price target on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Royal Bank of Canada lifted their price objective on Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, Piper Sandler upped their target price on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.35.

Insider Transactions at Diamondback Energy

In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the sale, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

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.