Tobam Buys 6,408 Shares of Diamondback Energy, Inc. $FANG

Tobam raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3,426.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,595 shares of the oil and natural gas company’s stock after acquiring an additional 6,408 shares during the quarter. Tobam’s holdings in Diamondback Energy were worth $991,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FANG. Deseret Mutual Benefit Administrators lifted its stake in shares of Diamondback Energy by 31.7% in 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 period. Scotia Capital Inc. grew 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 period. Equitable Trust Co. grew its stake in Diamondback Energy by 0.7% in the third quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock worth $1,435,000 after purchasing an additional 73 shares during the period. Townsend & Associates Inc grew 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 period. Finally, 180 Wealth Advisors LLC raised its holdings in Diamondback Energy by 2.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after purchasing an additional 78 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

FANG opened at $183.50 on Friday. The firm has a market cap of $51.62 billion, a PE ratio of 213.37 and a beta of 0.42. The stock has a 50-day moving average price of $195.03 and a 200-day moving average price of $176.66. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating 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 net margin of 1.87% and a return on equity of 7.76%. Diamondback Energy’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.54 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a $1.10 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.4%. Diamondback Energy’s payout ratio is currently 511.63%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction dated 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 completion of the sale, the director directly owned 851,530 shares in the company, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the transaction, the chief accounting officer owned 85,755 shares in the company, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 121,548 shares of company stock valued at $23,146,460. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FANG shares. Freedom Capital raised Diamondback Energy to a “strong-buy” rating in a research report on Tuesday, March 10th. Mizuho upped their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $202.00 to $262.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $223.63.

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.