850 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by City State Bank

City State Bank purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, Holdings Channel reports. The institutional investor purchased 850 shares of the oil and natural gas company’s stock, valued at approximately $112,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Journey Strategic Wealth LLC lifted its holdings in Diamondback Energy by 9.1% in the 1st quarter. Journey Strategic Wealth LLC now owns 1,697 shares of the oil and natural gas company’s stock valued at $229,000 after acquiring an additional 141 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in Diamondback Energy by 10.1% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 17,515 shares of the oil and natural gas company’s stock worth $2,368,000 after buying an additional 1,603 shares during the period. Checchi Capital Advisers LLC raised its holdings in Diamondback Energy by 31.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,404 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 574 shares during the period. CIBC Asset Management Inc raised its holdings in Diamondback Energy by 79.4% during the 4th quarter. CIBC Asset Management Inc now owns 43,729 shares of the oil and natural gas company’s stock worth $5,981,000 after buying an additional 19,355 shares during the period. Finally, Metis Global Partners LLC raised its holdings in Diamondback Energy by 47.5% during the 1st quarter. Metis Global Partners LLC now owns 5,337 shares of the oil and natural gas company’s stock worth $721,000 after buying an additional 1,718 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FANG has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on Diamondback Energy from $185.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. Truist Financial upped their target price on Diamondback Energy from $182.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Mizuho upped their target price on Diamondback Energy from $174.00 to $191.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. StockNews.com initiated coverage on Diamondback Energy in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Morgan Stanley upped their target price on Diamondback Energy from $154.00 to $163.00 and gave the company an “overweight” rating in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.39.

Insider Activity

In other news, CFO Hof Matthew Kaes Van’t sold 9,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $148.98, for a total value of $1,340,820.00. Following the completion of the sale, the chief financial officer now directly owns 155,980 shares of the company’s stock, valued at $23,237,900.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Hof Matthew Kaes Van’t sold 9,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $148.98, for a total value of $1,340,820.00. Following the completion of the transaction, the chief financial officer now directly owns 155,980 shares of the company’s stock, valued at $23,237,900.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matt Zmigrosky sold 2,706 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $157.17, for a total value of $425,302.02. Following the completion of the transaction, the executive vice president now directly owns 27,480 shares of the company’s stock, valued at $4,319,031.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,518 shares of company stock valued at $5,695,092. 0.43% of the stock is owned by company insiders.

Diamondback Energy Stock Down 1.4 %

FANG opened at $155.75 on Friday. Diamondback Energy, Inc. has a 1-year low of $110.97 and a 1-year high of $168.95. The company has a current ratio of 0.43, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $27.85 billion, a price-to-earnings ratio of 8.08, a P/E/G ratio of 0.41 and a beta of 2.04. The business has a 50 day moving average of $147.77 and a 200-day moving average of $138.56.

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

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 10th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.16%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, August 9th. Diamondback Energy’s dividend payout ratio is currently 17.44%.

Diamondback Energy Company 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.