Diamondback Energy, Inc. $FANG Shares Acquired by Brookstone Capital Management

Brookstone Capital Management grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 382.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,263 shares of the oil and natural gas company’s stock after acquiring an additional 47,780 shares during the quarter. Brookstone Capital Management’s holdings in Diamondback Energy were worth $11,920,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at about $25,000. Laurel Wealth Advisors LLC acquired a new stake in Diamondback Energy during the fourth quarter worth about $26,000. Richardson Financial Services Inc. raised 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 period. JPL Wealth Management LLC purchased a new position in Diamondback Energy during the third quarter worth about $26,000. Finally, Wellington Shields & Co. LLC boosted its holdings in 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 during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. The trade was a 8.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 121,548 shares of company stock worth $23,146,460 over the last quarter. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Trading Up 2.3%

Shares of FANG stock opened at $187.80 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The firm has a market cap of $52.83 billion, a PE ratio of 218.37 and a beta of 0.42. The company has a 50-day moving average of $195.06 and a two-hundred day moving average of $177.02. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51.

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

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. 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 is 511.63%.

Analyst Ratings Changes

Several research firms have recently weighed in on FANG. The Goldman Sachs Group increased their price target on shares of Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Citigroup lifted their price target on shares of Diamondback Energy from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Piper Sandler upped their price objective on Diamondback Energy from $215.00 to $248.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Truist Financial set a $242.00 price objective on Diamondback Energy in a research report on Wednesday, May 6th. Finally, UBS Group raised 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. Four equities research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $221.37.

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.