Moors & Cabot Inc. acquired a new position in Diamondback Energy Inc (NASDAQ:FANG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,292 shares of the oil and natural gas company’s stock, valued at approximately $334,000.
Several other institutional investors have also recently modified their holdings of FANG. JPMorgan Chase & Co. grew its position in shares of Diamondback Energy by 15.2% in the third quarter. JPMorgan Chase & Co. now owns 7,478,957 shares of the oil and natural gas company’s stock valued at $1,011,079,000 after purchasing an additional 984,124 shares during the last quarter. Legal & General Group Plc grew its position in shares of Diamondback Energy by 4.3% in the third quarter. Legal & General Group Plc now owns 400,932 shares of the oil and natural gas company’s stock valued at $54,202,000 after purchasing an additional 16,456 shares during the last quarter. Vanguard Group Inc grew its position in shares of Diamondback Energy by 0.3% in the third quarter. Vanguard Group Inc now owns 8,587,857 shares of the oil and natural gas company’s stock valued at $1,160,994,000 after purchasing an additional 23,673 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $9,313,000. Finally, State of Alaska Department of Revenue grew its position in shares of Diamondback Energy by 129.3% in the fourth quarter. State of Alaska Department of Revenue now owns 24,553 shares of the oil and natural gas company’s stock valued at $2,275,000 after purchasing an additional 13,843 shares during the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.
In other Diamondback Energy news, insider Michael L. Hollis bought 5,313 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $95.12 per share, with a total value of $505,372.56. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Randall J. Holder sold 4,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $104.13, for a total transaction of $416,520.00. Following the completion of the transaction, the insider now directly owns 14,448 shares in the company, valued at approximately $1,504,470.24. The disclosure for this sale can be found here. In the last three months, insiders sold 6,050 shares of company stock worth $626,158. Insiders own 0.57% of the company’s stock.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.03. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The business had revenue of $864.00 million for the quarter, compared to the consensus estimate of $893.16 million. During the same quarter last year, the firm posted $1.64 EPS. The business’s revenue for the quarter was up 80.4% compared to the same quarter last year. On average, equities analysts expect that Diamondback Energy Inc will post 7.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 28th will be paid a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, May 24th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.13. Diamondback Energy’s dividend payout ratio (DPR) is currently 8.52%.
Several analysts have recently commented on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $148.00 price target on shares of Diamondback Energy in a research report on Monday, March 11th. ValuEngine upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Williams Capital reiterated a “buy” rating and issued a $165.00 price target on shares of Diamondback Energy in a research report on Wednesday, May 8th. KeyCorp increased their price target on shares of Diamondback Energy from $116.00 to $124.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Roth Capital set a $166.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $160.43.
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Diamondback Energy Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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