Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Lifted by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 24.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,613 shares of the oil and natural gas company’s stock after buying an additional 313 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Diamondback Energy were worth $320,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Founders Capital Management lifted its position in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after buying an additional 101 shares during the last quarter. BKM Wealth Management LLC bought a new stake in Diamondback Energy in the 4th quarter valued at about $27,000. Logan Capital Management Inc. bought a new stake in Diamondback Energy in the 4th quarter valued at about $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in Diamondback Energy in the 4th quarter valued at about $34,000. Finally, CVA Family Office LLC bought a new stake in Diamondback Energy in the 4th quarter valued at about $35,000. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Diamondback Energy

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

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent research reports. Evercore ISI lifted their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays assumed coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 target price on the stock. Benchmark reissued a “buy” rating and set a $154.00 target price on shares of Diamondback Energy in a research note on Thursday, June 20th. Finally, Wells Fargo & Company lowered their target price on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $209.35.

Read Our Latest Stock Report on Diamondback Energy

Diamondback Energy Stock Down 0.1 %

NASDAQ FANG traded down $0.20 during trading on Wednesday, reaching $202.40. The company’s stock had a trading volume of 546,552 shares, compared to its average volume of 1,608,298. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $36.10 billion, a PE ratio of 11.42, a PEG ratio of 1.10 and a beta of 1.90. The business has a 50-day moving average price of $196.72 and a 200-day moving average price of $184.15. Diamondback Energy, Inc. has a 1-year low of $134.42 and a 1-year high of $211.96.

Diamondback Energy (NASDAQ:FANGGet Free Report) last posted its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.10 earnings per share. On average, research analysts forecast that Diamondback Energy, Inc. will post 19.05 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Diamondback Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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