Carnegie Capital Asset Management LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ: FANG – Get a rating) during the first quarter, according to its latest filing with the Securities & Exchange Commission. The fund acquired 1,856 shares of the oil and gas company, valued at around $254,000.
Several other institutional investors have also recently bought and sold shares of FANG. Dark Forest Capital Management LP acquired a new position in shares of Diamondback Energy in the third quarter worth approximately $26,000. Paragon Capital Management Ltd acquired a new position in shares of Diamondback Energy in the fourth quarter worth approximately $28,000. Harbor Investment Advisory LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth approximately $35,000. Confluence Wealth Services Inc. acquired a new position in shares of Diamondback Energy in the fourth quarter worth approximately $38,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in shares of Diamondback Energy in the fourth quarter worth approximately $42,000. 89.97% of the shares are currently held by institutional investors.
In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 6,000 shares of the company in a transaction dated Tuesday, June 7. The stock was sold at an average price of $160.00, for a total value of $960,000.00. Following the completion of the transaction, the CFO now owns 61,334 shares of the company, valued at approximately $9,813,440. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Also, CAD Teresa L.Dick sold 2,500 shares of the company in a transaction dated Friday, May 27. The stock was sold at an average price of $152.22, for a total value of $380,550.00. Following the completion of the transaction, the chief accounting officer now owns 57,308 shares of the company, valued at approximately $8,723,423.76. Disclosure of this sale can be found here. Insiders sold a total of 50,500 shares of the company valued at $7,580,970 during the last quarter. 0.47% of the shares are held by insiders.
Shares of Diamondback Energy Stock opened at $119.70 on Friday. Diamondback Energy, Inc. has a 1-year low of $65.93 and a 1-year high of $162.24. The company has a market capitalization of $21.25 billion, a PE ratio of 7.89, a P/E/G ratio of 0.22 and a beta of 2.18. The stock has a fifty-day moving average price of $137.86 and a 200-day moving average price of $130.48. The company has a debt ratio of 0.42, a current ratio of 0.72 and a quick ratio of 0.69.
Diamondback Energy (NASDAQ: FANG – Get a rating) last released its quarterly results on Monday, May 2. The oil and gas company reported earnings per share of $5.20 for the quarter, beating the consensus estimate of $4.74 by $0.46. The company posted revenue of $2.41 billion in the quarter, versus a consensus estimate of $1.93 billion. Diamondback Energy had a return on equity of 19.91% and a net margin of 34.17%. In the same quarter of the previous year, the company achieved EPS of $2.30. As a group, stock analysts expect Diamondback Energy, Inc. to post EPS of 26.16 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 23. Shareholders of record on Thursday, May 12 received a dividend of $0.70 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.60. The ex-dividend date was Wednesday, May 11. This represents an annualized dividend of $2.80 and a dividend yield of 2.34%. Diamondback Energy’s dividend payout ratio is currently 18.46%.
Several stock analysts have published reports on the company. Susquehanna raised its price target on Diamondback Energy from $152.00 to $167.00 and gave the company a “positive” rating in a Monday, April 25 research note. Scotiabank raised its price target on Diamondback Energy from $165.00 to $170.00 and gave the company a “neutral” rating in a Wednesday, March 9 research note. Bank of America downgraded Diamondback Energy from a “buy” rating to a “neutral” rating and raised its price target for the company from $165.00 to $170.00 in a Tuesday, March 8 research note. KeyCorp raised its price target on Diamondback Energy from $152.00 to $164.00 and gave the company an “overweight” rating in a Friday, April 8 report. Finally, Barclays raised its price target on Diamondback Energy from $160.00 to $180.00 and gave the company an “overweight” rating in a Tuesday, June 14 report. Two research analysts gave the stock a hold rating, thirteen gave the company a buy rating and one gave the company a high buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.35.
Diamondback Energy Profile (Get a rating)
Diamondback Energy, Inc, an independent oil and gas company, is focused on the acquisition, development, exploration and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin of western Texas. It covers 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 western Texas and New Mexico.
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