12,332 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Acquired by Peterson Wealth Services

Peterson Wealth Services bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 12,332 shares of the oil and natural gas company’s stock, valued at approximately $1,912,000.

Several other hedge funds have also made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Diamondback Energy by 3.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock valued at $278,000 after acquiring an additional 64 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in Diamondback Energy by 1.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after acquiring an additional 64 shares in the last quarter. Veracity Capital LLC increased its position in Diamondback Energy by 3.5% during the 3rd quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 70 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Diamondback Energy by 2.5% in the 4th quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after purchasing an additional 75 shares in the last quarter. Finally, Simplicity Solutions LLC lifted its position in shares of Diamondback Energy by 2.5% in the 4th quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after purchasing an additional 75 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FANG has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. BMO Capital Markets boosted their price target on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 13th. UBS Group raised their price objective on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. KeyCorp boosted their target price on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, Susquehanna increased their price target on shares of Diamondback Energy from $190.00 to $195.00 and gave the company a “positive” rating in a research report on Tuesday, February 13th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $195.95.

Insider Activity at Diamondback Energy

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

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $0.05 during trading hours on Thursday, hitting $201.20. 234,140 shares of the stock traded hands, compared to its average volume of 1,748,354. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The stock has a market capitalization of $35.88 billion, a price-to-earnings ratio of 11.60 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The firm’s 50 day moving average price is $188.00 and its 200-day moving average price is $166.98.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $5.29 earnings per share. Diamondback Energy’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts expect that Diamondback Energy, Inc. will post 18.52 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced 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. This represents a $12.32 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is 20.76%.

Diamondback Energy Company 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.