MeadowBrook Investment Advisors LLC Invests $323,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

MeadowBrook Investment Advisors LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,083 shares of the oil and natural gas company’s stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FANG. Wellington Management Group LLP boosted its stake in Diamondback Energy by 4.8% during the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after acquiring an additional 648,317 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Diamondback Energy by 2.6% in the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after buying an additional 89,663 shares during the last quarter. Invesco Ltd. grew its stake in shares of Diamondback Energy by 6.6% during the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock worth $514,289,000 after acquiring an additional 206,189 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Diamondback Energy by 39.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after purchasing an additional 858,446 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Diamondback Energy by 0.6% during the 3rd quarter. Northern Trust Corp now owns 1,999,579 shares of the oil and natural gas company’s stock valued at $309,695,000 after purchasing an additional 12,237 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of the business’s 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 directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the company’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 sale, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,675 shares of company stock valued at $11,311,096. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FANG shares. Morgan Stanley cut their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Susquehanna upped their target price on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Stifel Nicolaus lifted their price objective on Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada lifted their price target on shares of Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Truist Financial boosted their target price on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.68.

Diamondback Energy Price Performance

Diamondback Energy stock traded down $0.29 during midday trading on Tuesday, reaching $203.90. The company had a trading volume of 388,137 shares, compared to its average volume of 1,730,170. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96. The firm’s fifty day simple moving average is $196.03 and its 200-day simple moving average is $171.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The company has a market capitalization of $36.36 billion, a P/E ratio of 11.51 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.10 earnings per share. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 18.91 EPS for the current year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

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.