Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 162.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,109 shares of the oil and natural gas company’s stock after acquiring an additional 3,162 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Diamondback Energy were worth $817,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock valued at $1,496,859,000 after acquiring an additional 928,429 shares in the last quarter. Boston Partners grew its position in Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after acquiring an additional 571,820 shares in the last quarter. Geode Capital Management LLC grew its position in Diamondback Energy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock valued at $769,706,000 after acquiring an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp grew its position in Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after acquiring an additional 502,916 shares in the last quarter. Finally, Demars Financial Group LLC acquired a new position in Diamondback Energy in the 4th quarter valued at about $638,050,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the president now owns 120,645 shares of the company’s stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FANG shares. Susquehanna lowered their price objective on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Evercore ISI started coverage on Diamondback Energy in a research report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price objective for the company. Mizuho lowered their price objective on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Bank of America boosted their price objective on Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Finally, Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $193.09.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $154.91 on Friday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a 50 day simple moving average of $136.99 and a 200-day simple moving average of $152.50. The stock has a market capitalization of $45.26 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last released 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. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the prior year, the business earned $4.50 earnings per share. The company’s quarterly revenue was up 81.8% compared to the same quarter last year. Equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

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.