Vise Technologies Inc. Buys 3,464 Shares of Diamondback Energy, Inc. $FANG

Vise Technologies Inc. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 66.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,689 shares of the oil and natural gas company’s stock after purchasing an additional 3,464 shares during the period. Vise Technologies Inc.’s holdings in Diamondback Energy were worth $1,306,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Flagship Harbor Advisors LLC bought a new position in Diamondback Energy in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. grew its position in Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC bought a new position in Diamondback Energy in the fourth quarter valued at about $26,000. JPL Wealth Management LLC bought a new position in Diamondback Energy in the third quarter valued at about $26,000. Finally, Wellington Shields & Co. LLC grew its position in Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $198.20 on Tuesday. The business’s 50-day moving average price is $195.99 and its 200-day moving average price is $174.25. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51. The firm has a market capitalization of $55.76 billion, a price-to-earnings ratio of 230.47 and a beta of 0.42. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the firm posted $4.54 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.65 EPS for the current year.

Diamondback Energy Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Susquehanna lifted their target price on Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a research report on Wednesday, May 6th. Mizuho lifted their target price on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. TD Cowen upgraded Diamondback Energy to a “strong-buy” rating in a research report on Monday, February 9th. The Goldman Sachs Group lifted their target price on Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Finally, Scotiabank lifted 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. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $223.26.

Insider Activity

In other news, Director Steven E. West sold 6,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total transaction of $1,130,100.00. Following the sale, the director directly owned 4,484 shares of the company’s stock, valued at approximately $844,561.40. This trade represents a 57.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jere W. Thompson III sold 750 shares of Diamondback Energy stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $182.47, for a total value of $136,852.50. Following the sale, the chief financial officer directly owned 19,975 shares in the company, valued at $3,644,838.25. The trade was a 3.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 78,464 shares of company stock valued at $14,946,406. 0.64% of the stock is currently owned by company insiders.

Diamondback Energy 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.