15,813 Shares in Diamondback Energy, Inc. $FANG Bought by Goodman Advisory Group LLC

Goodman Advisory Group LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,813 shares of the oil and natural gas company’s stock, valued at approximately $3,128,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Boston Partners raised its holdings in shares of Diamondback Energy by 2.9% during the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after purchasing an additional 163,548 shares during the period. Geode Capital Management LLC lifted its position in shares of Diamondback Energy by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after buying an additional 14,625 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Diamondback Energy by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after buying an additional 532,756 shares during the period. Capital Research Global Investors boosted its holdings in shares of Diamondback Energy by 14.1% in the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after buying an additional 534,073 shares during the period. Finally, Morgan Stanley grew its position in shares of Diamondback Energy by 3.2% during the 4th quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock valued at $575,605,000 after buying an additional 117,798 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FANG shares. Wells Fargo & Company set a $212.00 target price on shares of Diamondback Energy in a report on Monday, June 22nd. Citigroup upped their target price on Diamondback Energy from $225.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Barclays raised their price target on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group boosted their price objective on Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $221.37.

Diamondback Energy Stock Performance

FANG opened at $179.91 on Friday. The business’s 50 day moving average is $194.75 and its 200-day moving average is $177.59. The stock has a market cap of $50.61 billion, a PE ratio of 209.20 and a beta of 0.42. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51.

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

Diamondback Energy Increases Dividend

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

Insiders Place Their Bets

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

About Diamondback Energy

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.