Outlook Wealth Advisors LLC Makes New $462,000 Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Outlook Wealth Advisors LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,331 shares of the oil and natural gas company’s stock, valued at approximately $462,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FANG. Patriot Financial Group Insurance Agency LLC increased its holdings in Diamondback Energy by 3.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock valued at $278,000 after purchasing an additional 64 shares during the period. Coldstream Capital Management Inc. grew its position in shares of Diamondback Energy by 1.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock valued at $566,000 after buying an additional 64 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Diamondback Energy by 8.6% in the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after buying an additional 67 shares during the period. Veracity Capital LLC raised its position in shares of Diamondback Energy by 3.5% during the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock worth $319,000 after acquiring an additional 70 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in shares of Diamondback Energy by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after acquiring an additional 75 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 0.3 %

NASDAQ FANG traded up $0.66 during trading hours on Friday, hitting $207.76. The company’s stock had a trading volume of 1,184,009 shares, compared to its average volume of 1,327,313. The company has a market capitalization of $37.05 billion, a PE ratio of 11.98 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The company’s 50-day simple moving average is $193.25 and its two-hundred day simple moving average is $169.49.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company posted $5.29 earnings per share. Diamondback Energy’s revenue was up 9.8% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 18.83 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a $3.08 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a dividend yield of 5.93%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is currently 20.76%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Stifel Nicolaus increased their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday. Susquehanna lifted their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Bank of America raised shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price target for the company from $129.00 to $170.00 in a research report on Monday, February 12th. Bank Of America (Bofa) lowered their price objective on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research report on Thursday, January 18th. Finally, Evercore ISI upped their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $202.53.

Insider Activity at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock valued at $11,311,096 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

About Diamondback Energy

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.