Vise Technologies Inc. Has $1.31 Million Stock Position in Diamondback Energy, Inc. $FANG

Vise Technologies Inc. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 66.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,689 shares of the oil and natural gas company’s stock after acquiring an additional 3,464 shares during the quarter. Vise Technologies Inc.’s holdings in Diamondback Energy were worth $1,306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth approximately $25,000. Laurel Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. lifted its stake in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 125 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy in the third quarter worth approximately $26,000. Finally, Wellington Shields & Co. LLC lifted its stake in Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 135 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FANG has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Truist Financial set a $242.00 price target on Diamondback Energy in a research note on Wednesday, May 6th. Benchmark lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Citigroup boosted their price target on Diamondback Energy from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Scotiabank boosted their price target on Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $223.26.

Diamondback Energy Trading Up 2.9%

NASDAQ FANG opened at $198.20 on Tuesday. The business has a 50 day moving average price of $195.99 and a 200-day moving average price of $174.25. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. The company has a market cap of $55.76 billion, a price-to-earnings ratio of 230.47 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the company posted $4.54 earnings per share. Diamondback Energy’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Diamondback Energy, Inc. will post 19.65 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.2%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is currently 511.63%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 7,857 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $189.20, for a total transaction of $1,486,544.40. Following the completion of the sale, the director owned 942,721 shares in the company, valued at approximately $178,362,813.20. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,464 shares of company stock valued at $14,946,406 in the last three months. Insiders own 0.64% of the company’s stock.

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.