GDS Wealth Management Takes $14.05 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

GDS Wealth Management acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 90,603 shares of the oil and natural gas company’s stock, valued at approximately $14,051,000. Diamondback Energy makes up approximately 1.9% of GDS Wealth Management’s portfolio, making the stock its 12th biggest position. GDS Wealth Management owned 0.05% of Diamondback Energy as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after acquiring an additional 648,317 shares in the last quarter. Morgan Stanley increased its stake in Diamondback Energy by 2.6% during the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock valued at $541,175,000 after purchasing an additional 89,663 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Diamondback Energy by 6.6% in the third quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock worth $514,289,000 after buying an additional 206,189 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after buying an additional 858,446 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Diamondback Energy by 0.6% in the 3rd quarter. Northern Trust Corp now owns 1,999,579 shares of the oil and natural gas company’s stock valued at $309,695,000 after acquiring an additional 12,237 shares during the period. 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, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders have sold 58,575 shares of company stock worth $11,491,006 in the last ninety days. 0.43% of the stock is owned by insiders.

Analyst Ratings Changes

FANG has been the topic of several research analyst reports. Scotiabank boosted their price target on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Evercore ISI raised their price target on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Raymond James dropped their price objective on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Susquehanna raised their target price on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.68.

Diamondback Energy Price Performance

Shares of FANG stock traded up $0.50 during trading hours on Thursday, reaching $203.72. The company had a trading volume of 1,032,896 shares, compared to its average volume of 1,728,650. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. The company has a market capitalization of $36.33 billion, a price-to-earnings ratio of 11.48 and a beta of 1.91. The stock has a fifty day moving average of $197.44 and a 200-day moving average of $171.79.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the business earned $4.10 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 18.91 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

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.