Hanseatic Management Services Inc. Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Hanseatic Management Services Inc. purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,372 shares of the oil and natural gas company’s stock, valued at approximately $736,000. Diamondback Energy accounts for about 1.3% of Hanseatic Management Services Inc.’s portfolio, making the stock its 17th biggest holding.

A number of other hedge funds have also bought and sold shares of FANG. Focused Wealth Management Inc increased its position in Diamondback Energy by 111.8% during the first quarter. Focused Wealth Management Inc now owns 190 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 1,800 shares during the period. Accel Wealth Management bought a new position in Diamondback Energy during the first quarter worth about $27,000. FinTrust Capital Advisors LLC increased its position in Diamondback Energy by 232.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after acquiring an additional 149 shares during the period. Carolinas Wealth Consulting LLC grew its stake in Diamondback Energy by 366.7% during the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 176 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in Diamondback Energy during the first quarter worth about $41,000. 87.84% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 0.7 %

NASDAQ:FANG opened at $156.03 on Friday. The firm’s 50 day simple moving average is $145.28 and its 200 day simple moving average is $138.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.43 and a quick ratio of 0.40. Diamondback Energy, Inc. has a one year low of $110.97 and a one year high of $168.95. The company has a market cap of $27.90 billion, a PE ratio of 8.10, a P/E/G ratio of 0.41 and a beta of 2.04.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, July 31st. The oil and natural gas company reported $3.68 EPS for the quarter, missing the consensus estimate of $3.92 by ($0.24). Diamondback Energy had a return on equity of 22.43% and a net margin of 41.62%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business earned $7.07 earnings per share. The firm’s quarterly revenue was down 30.7% on a year-over-year basis. On average, research analysts anticipate that Diamondback Energy, Inc. will post 17.34 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.84 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $3.36 annualized dividend and a yield of 2.15%. Diamondback Energy’s dividend payout ratio (DPR) is presently 17.44%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Steven E. West sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $150.65, for a total transaction of $1,205,200.00. Following the completion of the transaction, the director now owns 5,100 shares in the company, valued at approximately $768,315. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $132.10, for a total transaction of $990,750.00. Following the completion of the transaction, the chief financial officer now owns 164,980 shares in the company, valued at approximately $21,793,858. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven E. West sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $150.65, for a total transaction of $1,205,200.00. Following the transaction, the director now owns 5,100 shares of the company’s stock, valued at approximately $768,315. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,912 shares of company stock worth $6,540,928. 0.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FANG. Stifel Nicolaus increased their price objective on shares of Diamondback Energy from $178.00 to $179.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Morgan Stanley increased their price objective on shares of Diamondback Energy from $154.00 to $163.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. UBS Group increased their price objective on shares of Diamondback Energy from $161.00 to $191.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Benchmark began coverage on shares of Diamondback Energy in a research note on Wednesday, July 12th. They set a “buy” rating and a $154.00 price objective on the stock. Finally, StockNews.com began coverage on shares of Diamondback Energy in a research note on Thursday, August 17th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.35.

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 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.