Royal Bank of Canada Purchases 117,471 Shares of Diamondback Energy, Inc. $FANG

Royal Bank of Canada grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,172,913 shares of the oil and natural gas company’s stock after acquiring an additional 117,471 shares during the quarter. Royal Bank of Canada owned about 0.42% of Diamondback Energy worth $231,992,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators grew its holdings in Diamondback Energy by 31.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after purchasing an additional 66 shares during the last quarter. Scotia Capital Inc. lifted its stake in Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after purchasing an additional 68 shares during the last quarter. Townsend & Associates Inc lifted its stake in Diamondback Energy by 0.5% in the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after purchasing an additional 75 shares during the last quarter. Capital Financial Group Inc. Co. ADV lifted its stake in Diamondback Energy by 2.1% in the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock worth $709,000 after purchasing an additional 75 shares during the last quarter. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Diamondback Energy by 40.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company’s stock valued at $45,000 after buying an additional 86 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other news, 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 transaction of $15,593,458.08. Following the transaction, the director owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. This represents a 8.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $1,406,300.00. Following the transaction, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,691 shares of company stock valued at $21,622,752 over the last 90 days. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 4.6%

Shares of NASDAQ FANG opened at $199.13 on Thursday. 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 firm has a market capitalization of $56.02 billion, a price-to-earnings ratio of 231.55 and a beta of 0.42. The stock has a 50 day moving average price of $190.77 and a 200 day moving average price of $183.89. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping 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 quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $4.54 EPS. Sell-side analysts expect that Diamondback Energy, Inc. will post 18.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FANG. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the company a “buy” rating in a report on Monday, June 22nd. UBS Group dropped their price objective on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Sanford C. Bernstein increased their target price on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Susquehanna increased their target price on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $218.68.

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.