Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Avior Wealth Management LLC

Avior Wealth Management LLC boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 128.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,912 shares of the oil and natural gas company’s stock after buying an additional 1,076 shares during the quarter. Avior Wealth Management LLC’s holdings in Diamondback Energy were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Wellington Management Group LLP grew its position in shares of Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after purchasing an additional 648,317 shares during the last quarter. State Street Corp grew its position in shares of Diamondback Energy by 1.0% in the first quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock valued at $1,575,653,000 after purchasing an additional 112,297 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Diamondback Energy by 4.8% in the first quarter. Geode Capital Management LLC now owns 3,919,925 shares of the oil and natural gas company’s stock valued at $528,736,000 after purchasing an additional 179,405 shares during the last quarter. Morgan Stanley grew its position in shares of Diamondback Energy by 2.5% in the fourth quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock valued at $488,590,000 after purchasing an additional 85,618 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Diamondback Energy by 6.6% in the third quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock valued at $514,289,000 after purchasing an additional 206,189 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp increased their price target on shares of Diamondback Energy from $186.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Susquehanna upped their price objective on shares of Diamondback Energy from $190.00 to $195.00 and gave the company a “positive” rating in a research note on Tuesday, February 13th. Mizuho upped their price objective on shares of Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. BMO Capital Markets upped their price objective on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research note on Tuesday, February 13th. Finally, Scotiabank upped their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $196.95.

Insider Transactions at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the sale, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. Insiders sold 57,675 shares of company stock valued at $11,311,096 over the last 90 days. Corporate insiders own 0.43% of the company’s stock.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $200.74 on Friday. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The firm has a fifty day moving average of $189.90 and a 200-day moving average of $167.56. The firm has a market capitalization of $35.80 billion, a P/E ratio of 11.58 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $5.29 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that Diamondback Energy, Inc. will post 18.53 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were given a $3.08 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a dividend yield of 6.14%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is presently 20.76%.

About Diamondback Energy

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.