Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Increased by Veracity Capital LLC

Veracity Capital LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 24.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,738 shares of the oil and natural gas company’s stock after purchasing an additional 533 shares during the quarter. Veracity Capital LLC’s holdings in Diamondback Energy were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Founders Capital Management raised its position in Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in Diamondback Energy during the fourth quarter worth $27,000. Logan Capital Management Inc. acquired a new stake in Diamondback Energy during the fourth quarter worth $31,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at $34,000. Finally, CVA Family Office LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at $35,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now owns 7,585 shares in the company, valued at $1,516,241.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the sale, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the sale, the vice president now directly owns 7,585 shares in the company, valued at $1,516,241.50. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Sanford C. Bernstein initiated coverage on shares of Diamondback Energy in a research report on Thursday, June 6th. They set an “outperform” rating and a $243.00 price target on the stock. Wells Fargo & Company lowered their target price on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Royal Bank of Canada raised their price target on shares of Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Barclays began coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective for the company. Finally, Scotiabank raised their price target on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $209.35.

Diamondback Energy Price Performance

Shares of NASDAQ FANG traded up $2.03 during mid-day trading on Thursday, reaching $206.93. The company had a trading volume of 741,138 shares, compared to its average volume of 1,316,407. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. Diamondback Energy, Inc. has a one year low of $125.73 and a one year high of $211.96. The firm has a market cap of $36.90 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.11 and a beta of 1.90. The business’s 50-day simple moving average is $196.83 and its 200 day simple moving average is $182.62.

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, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business posted $4.10 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, research analysts predict that Diamondback Energy, Inc. will post 19.06 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was 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.