Keystone Financial Services Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Keystone Financial Services purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,336 shares of the oil and natural gas company’s stock, valued at approximately $214,000.

Several other hedge funds have also modified their holdings of the stock. Barden Capital Management Inc. raised its holdings in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after acquiring an additional 64 shares during the period. Private Trust Co. NA raised its holdings in shares of Diamondback Energy by 4.8% during the fourth quarter. Private Trust Co. NA now owns 1,516 shares of the oil and natural gas company’s stock worth $248,000 after acquiring an additional 69 shares during the period. Grove Bank & Trust raised its holdings in shares of Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after acquiring an additional 80 shares during the period. Abbot Financial Management Inc. raised its holdings in shares of Diamondback Energy by 2.0% during the fourth quarter. Abbot Financial Management Inc. now owns 4,051 shares of the oil and natural gas company’s stock worth $664,000 after acquiring an additional 81 shares during the period. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Diamondback Energy by 6.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company’s stock worth $236,000 after acquiring an additional 82 shares during the period. 90.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy 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 completion of the sale, the president now owns 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $141.15 on Tuesday. The company has a market capitalization of $41.24 billion, a price-to-earnings ratio of 8.63 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The company has a 50-day simple moving average of $139.45 and a 200 day simple moving average of $151.29. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

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

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.83%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is 24.46%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Royal Bank Of Canada assumed coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They issued an “outperform” rating and a $180.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of Diamondback Energy from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, 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.