Bryn Mawr Capital Management LLC Acquires Shares of 1,900 Diamondback Energy, Inc. (NASDAQ:FANG)

Bryn Mawr Capital Management LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,900 shares of the oil and natural gas company’s stock, valued at approximately $295,000.

Other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at about $27,000. BluePath Capital Management LLC bought a new stake in shares of Diamondback Energy during the third quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at about $34,000. CVA Family Office LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at about $35,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after buying an additional 218 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $207.76 on Friday. The firm has a market cap of $37.05 billion, a PE ratio of 11.98 and a beta of 1.93. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The business has a 50 day moving average price of $193.25 and a 200-day moving average price of $169.58.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.29 earnings per share. Equities research analysts predict that Diamondback Energy, Inc. will post 18.83 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is 20.76%.

Wall Street Analyst Weigh In

FANG has been the topic of several analyst reports. Mizuho upped their price target on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. KeyCorp upped their price objective on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Bank of America upgraded shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. Bank Of America (Bofa) decreased their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research report on Thursday, January 18th. Finally, Susquehanna upped their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $202.53.

Insider Activity

In related news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly 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 valued at $11,311,096. 0.43% of the stock is currently owned by company insiders.

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.