GAMMA Investing LLC Invests $229,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

GAMMA Investing LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,491 shares of the oil and natural gas company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in Diamondback Energy by 4.8% during 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 buying an additional 648,317 shares during the period. Morgan Stanley increased its holdings in shares of Diamondback Energy by 2.6% in the third 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 during the period. Invesco Ltd. increased 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 valued at $514,289,000 after purchasing an additional 206,189 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Diamondback Energy by 39.9% in 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 purchasing an additional 858,446 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Diamondback Energy by 0.6% in the third 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 purchasing an additional 12,237 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated 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 directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by insiders.

Diamondback Energy Stock Up 0.9 %

Shares of NASDAQ:FANG opened at $207.10 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The stock’s fifty day simple moving average is $192.69 and its 200-day simple moving average is $169.13. The company has a market capitalization of $36.93 billion, a P/E ratio of 11.94 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.29 earnings per share. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 18.83 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a $3.08 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s dividend payout ratio is presently 20.76%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FANG. Stifel Nicolaus boosted their target price on Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday. Evercore ISI lifted their price target on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Mizuho lifted their price target on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Raymond James decreased their price target on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Piper Sandler lifted their price target on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $202.53.

Diamondback Energy 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.