QRG Capital Management Inc. Boosts Holdings in Diamondback Energy, Inc. $FANG

QRG Capital Management Inc. raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 101.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,694 shares of the oil and natural gas company’s stock after acquiring an additional 2,874 shares during the period. QRG Capital Management Inc.’s holdings in Diamondback Energy were worth $1,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at $25,000. Richardson Financial Services Inc. increased its position in Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new stake in Diamondback Energy in the fourth quarter valued at about $26,000. JPL Wealth Management LLC purchased a new stake in Diamondback Energy in the third quarter valued at about $26,000. Finally, Wellington Shields & Co. LLC boosted its holdings in Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 135 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FANG. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley lowered their target price on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Raymond James Financial reissued a “strong-buy” rating and set a $249.00 target price on shares of Diamondback Energy in a research report on Wednesday, June 10th. Wells Fargo & Company set a $212.00 target price on shares of Diamondback Energy in a research report on Monday, June 22nd. Finally, Freedom Capital upgraded shares of Diamondback Energy to a “strong-buy” rating in a research note on Tuesday, March 10th. Five research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $220.68.

Insider Buying and Selling at Diamondback Energy

In related news, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the transaction, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the transaction, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 113,691 shares of company stock worth $21,622,752. 0.64% of the stock is currently owned by company insiders.

Diamondback Energy Trading Up 3.9%

Diamondback Energy stock opened at $180.56 on Wednesday. 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 52 week low of $134.30 and a 52 week high of $214.51. The company has a market capitalization of $50.79 billion, a price-to-earnings ratio of 209.96 and a beta of 0.42. The stock has a 50-day moving average price of $192.79 and a 200 day moving average price of $178.69.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the company earned $4.54 EPS. Diamondback Energy’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.47 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $1.10 dividend. The ex-dividend date was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. Diamondback Energy’s dividend payout ratio (DPR) is currently 511.63%.

Diamondback Energy 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.