Trexquant Investment LP Takes $6.72 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Trexquant Investment LP acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 43,356 shares of the oil and natural gas company’s stock, valued at approximately $6,724,000.

Several other large investors have also recently added to or reduced their stakes in FANG. BKM Wealth Management LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the fourth quarter valued at $34,000. CVA Family Office LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $35,000. Cary Street Partners Investment Advisory LLC boosted its position in Diamondback Energy by 559.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after acquiring an additional 218 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in Diamondback Energy by 37.3% in the 4th quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock valued at $50,000 after buying an additional 87 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction dated Friday, May 3rd. The stock was 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 Securities & Exchange Commission, which is available at this link. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders have sold a total of 58,575 shares of company stock valued at $11,491,006 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $2.94 during trading hours on Wednesday, hitting $193.62. 109,557 shares of the company were exchanged, compared to its average volume of 1,674,377. The business has a 50-day moving average of $199.92 and a 200-day moving average of $173.97. 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 $34.53 billion, a price-to-earnings ratio of 11.08 and a beta of 1.91. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last issued its 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 business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned $4.10 EPS. As a group, analysts expect that Diamondback Energy, Inc. will post 19.01 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.86%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FANG shares. Truist Financial increased their target price on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Mizuho lifted their target price on Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Piper Sandler lifted their price target on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Bank of America upgraded Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. Finally, BMO Capital Markets raised their price target 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.95.

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.