2,779 Shares in Diamondback Energy, Inc. $FANG Purchased by Inceptionr LLC

Inceptionr LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,779 shares of the oil and natural gas company’s stock, valued at approximately $550,000.

Several other institutional investors also recently made changes to their positions in FANG. Cedar Mountain Advisors LLC bought a new position in Diamondback Energy in the 1st quarter worth approximately $26,000. Flagship Harbor Advisors LLC bought a new stake in Diamondback Energy during the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy during the 4th quarter valued at $26,000. Richardson Financial Services Inc. boosted its position in Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 125 shares during the period. Finally, JPL Wealth Management LLC acquired a new position in Diamondback Energy during the 3rd quarter worth $26,000. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FANG. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group reduced their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research note on Tuesday. Susquehanna increased their price objective on shares of Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a report on Tuesday. Zacks Research lowered shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Mizuho boosted their target price on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $218.68.

Diamondback Energy Stock Down 0.4%

Diamondback Energy stock opened at $204.68 on Friday. The firm has a market cap of $57.58 billion, a PE ratio of 238.00 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. The firm’s 50 day moving average price is $191.42 and its two-hundred day moving average price is $182.57. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the firm posted $4.54 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts predict that Diamondback Energy, Inc. will post 18.9 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a $1.10 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.1%. Diamondback Energy’s payout ratio is 511.63%.

Insider Activity

In other news, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the sale, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 113,691 shares of company stock worth $21,622,752 in the last 90 days. Insiders own 0.64% of the company’s stock.

About Diamondback Energy

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.