MeadowBrook Investment Advisors LLC Takes $323,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

MeadowBrook Investment Advisors LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, HoldingsChannel.com reports. The firm bought 2,083 shares of the oil and natural gas company’s stock, valued at approximately $323,000.

Several other large investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in Diamondback Energy during the fourth quarter valued at $27,000. BluePath Capital Management LLC bought a new stake in Diamondback Energy in the third quarter worth $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in Diamondback Energy during the fourth quarter worth $34,000. CVA Family Office LLC bought a new position in Diamondback Energy during the 4th quarter valued at about $35,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after buying an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FANG shares. Piper Sandler raised their price target on shares of Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. UBS Group increased their price objective on shares of Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Barclays began coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 target price on the stock. Morgan Stanley dropped their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, Evercore ISI raised their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $205.68.

Insider Buying and Selling

In other news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is owned by insiders.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $0.29 during trading on Tuesday, reaching $203.90. The company’s stock had a trading volume of 388,137 shares, compared to its average volume of 1,730,170. The business’s fifty day moving average price is $196.03 and its 200-day moving average price is $171.08. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. The firm has a market cap of $36.36 billion, a price-to-earnings ratio of 11.51 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last released 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. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the company posted $4.10 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, analysts anticipate that Diamondback Energy, Inc. will post 18.91 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s payout ratio is 20.29%.

Diamondback Energy 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.