Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Boosted by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 46.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,931 shares of the oil and natural gas company’s stock after purchasing an additional 932 shares during the period. MidWestOne Financial Group Inc.’s holdings in Diamondback Energy were worth $480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth approximately $312,000. Merit Financial Group LLC grew its holdings in shares of Diamondback Energy by 18.0% during the 4th quarter. Merit Financial Group LLC now owns 2,315 shares of the oil and natural gas company’s stock valued at $379,000 after acquiring an additional 353 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Diamondback Energy by 22.7% in the fourth quarter. HB Wealth Management LLC now owns 4,036 shares of the oil and natural gas company’s stock worth $661,000 after acquiring an additional 747 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth $384,000. Finally, UMB Bank n.a. raised its holdings in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president now owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $136.31 on Thursday. The company has a market capitalization of $39.83 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company’s fifty day moving average price is $140.68 and its 200 day moving average price is $157.33.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue was up 81.8% compared to the same quarter last year. During the same period last year, the business posted $4.50 earnings per share. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is currently 24.46%.

Analysts Set New Price Targets

FANG has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Barclays reduced their price target on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Williams Trading set a $190.00 price objective on Diamondback Energy in a report on Wednesday, March 5th. Mizuho cut their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, KeyCorp reduced their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $194.09.

Diamondback Energy Company 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.