Wealthcare Advisory Partners LLC Makes New $233,000 Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Wealthcare Advisory Partners LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,175 shares of the oil and natural gas company’s stock, valued at approximately $233,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Diamondback Energy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after acquiring an additional 176,208 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after acquiring an additional 648,317 shares in the last quarter. Morgan Stanley raised its position in shares of Diamondback Energy by 2.6% in the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after acquiring an additional 89,663 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Diamondback Energy by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,213,631 shares of the oil and natural gas company’s stock worth $343,296,000 after acquiring an additional 188,590 shares in the last quarter. Finally, Yacktman Asset Management LP raised its position in shares of Diamondback Energy by 4.5% in the 4th quarter. Yacktman Asset Management LP now owns 1,520,447 shares of the oil and natural gas company’s stock worth $235,791,000 after acquiring an additional 65,524 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now directly owns 7,585 shares in the company, valued at $1,516,241.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now directly owns 69,677 shares in the company, valued at $13,736,123.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jere W. Thompson III sold 900 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at $1,516,241.50. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Mizuho increased their target price on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Truist Financial raised their price objective on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Piper Sandler raised their price objective on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Barclays began coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $209.35.

Diamondback Energy Stock Performance

FANG stock opened at $203.71 on Tuesday. The company has a market cap of $36.33 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.90. Diamondback Energy, Inc. has a 1 year low of $125.73 and a 1 year high of $211.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The stock’s fifty day moving average price is $196.76 and its 200-day moving average price is $181.73.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the business posted $4.10 EPS. On average, equities analysts forecast that Diamondback Energy, Inc. will post 19.06 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.77%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

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.