Inspire Investing LLC Has $5.17 Million Position in Diamondback Energy, Inc. $FANG

Inspire Investing LLC lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,141 shares of the oil and natural gas company’s stock after selling 3,316 shares during the period. Inspire Investing LLC’s holdings in Diamondback Energy were worth $5,170,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in Diamondback Energy in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its stake in Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy during the fourth quarter worth $26,000. JPL Wealth Management LLC bought a new stake in Diamondback Energy during the third quarter worth $26,000. Finally, Wellington Shields & Co. LLC boosted its holdings in shares of Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.4%

Shares of NASDAQ:FANG opened at $180.54 on Tuesday. 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 PE ratio of 209.93 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The company has a fifty day moving average of $194.63 and a 200-day moving average of $177.89.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $4.54 EPS. On average, equities analysts predict that Diamondback Energy, Inc. will post 19.92 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $1.10 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is 511.63%.

Insider Transactions at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president directly owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated 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 approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 121,548 shares of company stock valued at $23,146,460. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent analyst reports. Wells Fargo & Company set a $212.00 price target on Diamondback Energy in a research note on Monday, June 22nd. 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. Raymond James Financial reiterated a “strong-buy” rating and issued a $249.00 target price on shares of Diamondback Energy in a research report on Wednesday, June 10th. UBS Group boosted their target price on Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Finally, KeyCorp increased their target price on shares of Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Five 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 data from MarketBeat, Diamondback Energy presently has an average rating of “Buy” and an average price target of $220.68.

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.