15,721 Shares in Diamondback Energy, Inc. $FANG Acquired by Asset One Wealth Management LLC

Asset One Wealth Management LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,721 shares of the oil and natural gas company’s stock, valued at approximately $2,494,000.

Several other large investors have also added to or reduced their stakes in FANG. Cresset Asset Management LLC grew its stake in Diamondback Energy by 37.5% in the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after acquiring an additional 1,288 shares during the period. Jump Financial LLC acquired a new stake in Diamondback Energy in the second quarter valued at approximately $2,301,000. Cerity Partners LLC grew its stake in Diamondback Energy by 13.5% in the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock valued at $7,022,000 after acquiring an additional 6,069 shares during the period. AXA S.A. grew its stake in Diamondback Energy by 8.5% in the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock valued at $7,194,000 after acquiring an additional 4,103 shares during the period. Finally, Sei Investments Co. grew its stake in Diamondback Energy by 37.1% in the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after acquiring an additional 41,866 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on FANG shares. The Goldman Sachs Group raised their price objective on Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research note on Wednesday, May 27th. Wells Fargo & Company raised their price objective on Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Sanford C. Bernstein raised their price objective on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Citigroup raised their price objective on Diamondback Energy from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $223.63.

Insiders Place Their Bets

In related news, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the sale, the director directly owned 851,530 shares in the company, valued at approximately $159,338,293.60. This trade represents a 8.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares in the company, valued at $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 121,548 shares of company stock valued at $23,146,460. 0.64% of the stock is owned by insiders.

Diamondback Energy Stock Down 1.4%

Shares of NASDAQ:FANG opened at $185.48 on Thursday. The stock has a market cap of $52.18 billion, a price-to-earnings ratio of 215.68 and a beta of 0.42. 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 12-month low of $134.30 and a 12-month high of $214.51. The business’s 50 day moving average is $195.33 and its 200 day moving average is $176.39.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $4.54 earnings per share. On average, sell-side 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 declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.4%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is 511.63%.

Diamondback Energy Company Profile

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.