Kercheville Advisors LLC Takes $791,000 Position in Diamondback Energy, Inc. $FANG

Kercheville Advisors LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,000 shares of the oil and natural gas company’s stock, valued at approximately $791,000.

Several other large investors also recently modified their holdings of FANG. Flagship Harbor Advisors LLC purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. increased its stake in shares of Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 125 shares during the period. JPL Wealth Management LLC bought a new position in shares of Diamondback Energy during the third quarter valued at approximately $26,000. Finally, Wellington Shields & Co. LLC raised its holdings in shares of Diamondback Energy by 264.7% during 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 acquiring an additional 135 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Diamondback Energy

In related news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction 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. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director owned 13,437 shares in the company, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 121,548 shares of company stock valued at $23,146,460 in the last quarter. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FANG. Freedom Capital upgraded shares of Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Truist Financial set a $242.00 price objective on shares of Diamondback Energy in a report on Wednesday, May 6th. Barclays raised their target price on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. UBS Group lifted their target price on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $249.00 price target on shares of Diamondback Energy in a research report on Wednesday, June 10th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $221.37.

Diamondback Energy Trading Up 0.1%

NASDAQ FANG opened at $187.91 on Wednesday. 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, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The firm has a market capitalization of $52.86 billion, a PE ratio of 218.50 and a beta of 0.42. The stock’s 50 day moving average is $195.06 and its 200 day moving average is $177.23.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.54 earnings per share. Research analysts forecast that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $1.10 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is currently 511.63%.

About Diamondback Energy

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.