WealthShield Partners LLC Buys Shares of 16,768 Diamondback Energy, Inc. $FANG

WealthShield Partners LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the first quarter, Holdings Channel reports. The institutional investor acquired 16,768 shares of the oil and natural gas company’s stock, valued at approximately $3,317,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FANG. Deseret Mutual Benefit Administrators lifted its position in Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after buying an additional 66 shares during the last quarter. Scotia Capital Inc. increased its position in shares of Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after acquiring an additional 68 shares during the last quarter. Townsend & Associates Inc increased its position in shares of Diamondback Energy by 0.5% during the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock valued at $2,161,000 after acquiring an additional 75 shares during the last quarter. Capital Financial Group Inc. Co. ADV increased its position in shares of Diamondback Energy by 2.1% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock valued at $709,000 after acquiring an additional 75 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in shares of Diamondback Energy by 2.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock valued at $410,000 after acquiring an additional 78 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 0.8%

Shares of FANG stock traded up $1.39 during trading on Friday, reaching $183.39. The company’s stock had a trading volume of 1,364,974 shares, compared to its average volume of 2,323,722. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The stock’s 50-day moving average price is $191.80 and its 200 day moving average price is $179.24. The company has a market capitalization of $51.59 billion, a price-to-earnings ratio of 213.25 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the business earned $4.54 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Diamondback Energy, Inc. will post 19.25 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $1.10 dividend. The ex-dividend date was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 2.4%. Diamondback Energy’s payout ratio is 511.63%.

Insider Buying and Selling

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. This represents a 9.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. This represents a 3.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 113,691 shares of company stock valued at $21,622,752. 0.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Truist Financial set a $242.00 price target on Diamondback Energy in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Finally, Citigroup lifted their price objective on Diamondback Energy from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and an average price target of $220.68.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.