Assetmark Inc. Purchases 6,069 Shares of Diamondback Energy, Inc. $FANG

Assetmark Inc. lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 304,014 shares of the oil and natural gas company’s stock after buying an additional 6,069 shares during the period. Assetmark Inc.’s holdings in Diamondback Energy were worth $60,131,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators grew its stake in Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after acquiring an additional 66 shares during the period. Scotia Capital Inc. raised its position in shares of Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after purchasing an additional 68 shares during the period. Townsend & Associates Inc raised its position in shares of Diamondback Energy by 0.5% during the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after purchasing an additional 75 shares during the period. Capital Financial Group Inc. Co. ADV lifted its holdings in shares of Diamondback Energy by 2.1% during the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock valued at $709,000 after purchasing an additional 75 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Diamondback Energy by 2.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock valued at $410,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 2.8%

Shares of Diamondback Energy stock opened at $195.54 on Friday. The business has a fifty day simple moving average of $191.24 and a two-hundred day simple moving average of $180.78. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The company has a market capitalization of $55.01 billion, a price-to-earnings ratio of 227.37 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.54 earnings per share. Research analysts forecast that Diamondback Energy, Inc. will post 19.14 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is 511.63%.

Analysts Set New Price Targets

A number of brokerages have weighed in on FANG. Sanford C. Bernstein lifted their price target on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wall Street Zen raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Wells Fargo & Company set a $212.00 price target on Diamondback Energy in a research report on Monday, June 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $219.53.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the transaction, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Charles Alvin Meloy sold 83,334 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the transaction, the director owned 851,530 shares in the company, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 113,691 shares of company stock valued at $21,622,752. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.