Leeward Investments LLC MA Takes $14.17 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Leeward Investments LLC MA purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 71,479 shares of the oil and natural gas company’s stock, valued at approximately $14,165,000.

A number of other large investors also recently added to or reduced their stakes in FANG. Founders Capital Management raised its position in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Diamondback Energy during the 4th quarter worth approximately $27,000. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $34,000. Finally, CVA Family Office LLC purchased a new position in Diamondback Energy during the fourth quarter worth approximately $35,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 1.0 %

NASDAQ:FANG traded up $2.03 during trading hours on Thursday, hitting $206.93. The company’s stock had a trading volume of 741,138 shares, compared to its average volume of 1,316,407. Diamondback Energy, Inc. has a 52-week low of $125.73 and a 52-week high of $211.96. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $36.90 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.11 and a beta of 1.90. The stock has a fifty day moving average of $196.83 and a 200-day moving average of $182.62.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the company earned $4.10 EPS. On average, equities analysts forecast that Diamondback Energy, Inc. will post 19.06 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.74%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Insider Activity at Diamondback Energy

In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the sale, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FANG has been the topic of several analyst reports. Bank of America reiterated a “neutral” rating and set a $201.00 price target on shares of Diamondback Energy in a report on Friday, June 14th. Morgan Stanley cut their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Sanford C. Bernstein assumed coverage on Diamondback Energy in a report on Thursday, June 6th. They issued an “outperform” rating and a $243.00 price objective on the stock. Royal Bank of Canada increased their price objective on Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, Barclays began coverage on Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.35.

Check Out Our Latest Report on FANG

Diamondback Energy Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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