Scissortail Wealth Management LLC Buys New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

Scissortail Wealth Management LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,125 shares of the oil and natural gas company’s stock, valued at approximately $794,000.

Other hedge funds have also made changes to their positions in the company. AlphaCrest Capital Management LLC increased its holdings in shares of Diamondback Energy by 6.0% during the first quarter. AlphaCrest Capital Management LLC now owns 3,156 shares of the oil and natural gas company’s stock worth $433,000 after buying an additional 178 shares in the last quarter. Raymond James Trust N.A. boosted its position in Diamondback Energy by 8.2% in the 1st quarter. Raymond James Trust N.A. now owns 4,932 shares of the oil and natural gas company’s stock valued at $676,000 after buying an additional 374 shares during the last quarter. Cibc World Market Inc. boosted its position in Diamondback Energy by 13.6% in the 1st quarter. Cibc World Market Inc. now owns 34,403 shares of the oil and natural gas company’s stock valued at $4,716,000 after buying an additional 4,129 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Diamondback Energy in the 1st quarter worth $223,000. Finally, Blair William & Co. IL bought a new position in shares of Diamondback Energy in the 1st quarter worth $205,000. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In related news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction dated Tuesday, April 2nd. The stock was 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 in the company, valued at $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.94, for a total transaction of $969,700.00. Following the completion of the sale, the executive vice president now owns 44,445 shares in the company, valued at $8,619,663.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FANG. Scotiabank raised their price target on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Mizuho raised their price target on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Susquehanna raised their price target on Diamondback Energy from $190.00 to $195.00 and gave the stock a “positive” rating in a research report on Tuesday, February 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 price objective on shares of Diamondback Energy in a research note on Monday, March 4th. Finally, UBS Group raised their price objective on Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $195.95.

Diamondback Energy Stock Up 0.4 %

Shares of NASDAQ FANG traded up $0.76 during mid-day trading on Wednesday, hitting $204.71. The company had a trading volume of 100,657 shares, compared to its average volume of 1,748,603. The company has a market capitalization of $36.51 billion, a PE ratio of 11.76 and a beta of 1.93. The firm has a 50-day simple moving average of $187.00 and a two-hundred day simple moving average of $166.74. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company earned $5.29 EPS. Diamondback Energy’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts expect that Diamondback Energy, Inc. will post 18.71 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a dividend of $3.08 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 6.02%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

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.