Wellington Shields & Co. LLC Acquires 201 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Wellington Shields & Co. LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,001 shares of the oil and natural gas company’s stock after acquiring an additional 201 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Diamondback Energy were worth $320,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FANG. BankPlus Trust Department bought a new stake in Diamondback Energy in the first quarter valued at $27,000. Pinnacle Bancorp Inc. grew its position in Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Grove Bank & Trust grew its position in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 80 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in Diamondback Energy by 119.8% in the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in Diamondback Energy in the fourth quarter valued at about $33,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Up 1.3%

Shares of FANG stock opened at $152.50 on Wednesday. The stock’s fifty day moving average is $142.15 and its two-hundred day moving average is $147.54. 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 firm has a market capitalization of $44.56 billion, a P/E ratio of 9.33 and a beta of 1.05. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $203.98.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly 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 for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.50 EPS. Research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.62%. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Insider Activity at Diamondback Energy

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president directly owned 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on FANG shares. Truist Financial upped their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Bank of America increased their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Raymond James Financial raised their price target on shares of Diamondback Energy from $204.00 to $221.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 22nd. Evercore ISI began coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They issued an “outperform” rating and a $165.00 target price for the company. Finally, Wells Fargo & Company raised their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $191.59.

Diamondback Energy Company 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.