Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1,839.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,386 shares of the oil and natural gas company’s stock after buying an additional 2,263 shares during the period. Silver Oak Securities Incorporated’s holdings in Diamondback Energy were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Coldstream Capital Management Inc. increased its holdings in shares of Diamondback Energy by 1.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after buying an additional 64 shares during the last quarter. MCF Advisors LLC increased its holdings in Diamondback Energy by 8.6% in the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 67 shares during the last quarter. Veracity Capital LLC increased its holdings in Diamondback Energy by 3.5% in the 3rd quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 70 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Diamondback Energy by 2.5% in the 4th quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after buying an additional 75 shares during the period. Finally, Simplicity Solutions LLC boosted its position in Diamondback Energy by 2.5% in the 4th quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,675 shares of company stock valued at $11,311,096. Company insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Down 2.3 %

FANG stock opened at $201.13 on Wednesday. The company has a market cap of $35.87 billion, a P/E ratio of 11.60 and a beta of 1.93. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The company’s 50-day moving average price is $194.24 and its 200 day moving average price is $170.21. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.27. 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 for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the firm earned $4.10 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, research analysts expect that Diamondback Energy, Inc. will post 18.83 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FANG. Morgan Stanley decreased their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. UBS Group boosted their price target on shares of Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Stifel Nicolaus boosted their price target on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Scotiabank lifted 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. Finally, Mizuho lifted 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.53.

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.