Waverly Advisors LLC Grows Stake in Diamondback Energy, Inc. $FANG

Waverly Advisors LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 940.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,804 shares of the oil and natural gas company’s stock after acquiring an additional 33,265 shares during the period. Waverly Advisors LLC’s holdings in Diamondback Energy were worth $7,279,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FANG. Hilltop Holdings Inc. lifted its position in shares of Diamondback Energy by 47.8% during the 1st quarter. Hilltop Holdings Inc. now owns 3,780 shares of the oil and natural gas company’s stock worth $748,000 after buying an additional 1,223 shares during the last quarter. Compound Planning Inc. grew its position in shares of Diamondback Energy by 42.7% in the 1st quarter. Compound Planning Inc. now owns 2,938 shares of the oil and natural gas company’s stock valued at $581,000 after buying an additional 879 shares during the last quarter. Inceptionr LLC purchased a new position in shares of Diamondback Energy in the 1st quarter valued at $550,000. Sei Investments Co. raised its stake in Diamondback Energy by 7.5% during the 1st quarter. Sei Investments Co. now owns 140,846 shares of the oil and natural gas company’s stock worth $27,858,000 after acquiring an additional 9,867 shares in the last quarter. Finally, State of Wyoming raised its stake in Diamondback Energy by 327.1% during the 1st quarter. State of Wyoming now owns 1,072 shares of the oil and natural gas company’s stock worth $212,000 after acquiring an additional 821 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the sale, the executive vice president directly owned 46,392 shares of the company’s stock, valued at $9,303,451.68. This represents a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 113,691 shares of company stock valued at $21,622,752. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $195.80 on Tuesday. The stock has a market capitalization of $55.08 billion, a P/E ratio of 227.68 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The company’s fifty day moving average is $191.22 and its two-hundred day moving average is $183.18.

Diamondback Energy (NASDAQ:FANG) last released its earnings results 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 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 was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $4.54 EPS. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 18.9 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is presently 511.63%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FANG shares. Sanford C. Bernstein upped their price objective on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Barclays lifted their target price on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Wells Fargo & Company set a $212.00 target price on Diamondback Energy in a report on Monday, June 22nd. Scotiabank upped their target price on Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Roth Capital set a $212.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, June 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average 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.