Diamondback Energy, Inc. $FANG Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,069 shares of the oil and natural gas company’s stock after acquiring an additional 5,243 shares during the quarter. Sanctuary Advisors LLC’s holdings in Diamondback Energy were worth $8,321,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new stake in shares of Diamondback Energy during the first quarter valued at approximately $26,000. Flagship Harbor Advisors LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth $25,000. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at $26,000. Richardson Financial Services Inc. boosted its stake in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 125 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the 3rd quarter valued at $26,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the transaction, the executive vice president owned 46,392 shares of the company’s stock, valued at $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the transaction, the director owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their ownership of the stock. 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 90 days, insiders sold 113,691 shares of company stock valued at $21,622,752. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FANG shares. Sanford C. Bernstein lifted their price target on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Mizuho raised their target price on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Susquehanna boosted their price target on Diamondback Energy from $231.00 to $245.00 and gave the stock a “positive” rating in a research note on Wednesday, May 6th. Raymond James Financial reissued a “strong-buy” rating and issued a $249.00 price target on shares of Diamondback Energy in a report on Wednesday, June 10th. Finally, UBS Group raised their price objective on Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $219.53.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $195.54 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $55.01 billion, a price-to-earnings ratio of 227.37 and a beta of 0.42. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The business has a 50 day simple moving average of $191.24 and a 200-day simple moving average of $180.78.

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

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date 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%.

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.